New Home Sales Jump 91.8% In December

The federal government’s HomeBuilder grant has led to the largest number of new home sales in two decades, according to new data.

The Housing Industry Association (HIA) has reported that:

1. The number of new home sales in December was 91.8% higher than November

2. December was the biggest month for new home sales since March 2001

3. Sales volumes for 2020 were 32.5% higher than 2019

“This surge in sales can be attributed to HomeBuilder as households finalised contracts to build a new home before the 31 December 2020 deadline to access the $25,000 grant,” according to the HIA economist Angela Lillicrap.

HomeBuilder is continuing until the end of March, but with a reduced grant of $15,000