New home sales continue to retreat from record highs
A 15.7 per cent slump in new apartment sales contributed to a 3.7 per cent drop in new home sales across the country, with Melbourne the only national capital to record an increase.
The government's bill to extend the duration and expand the eligibility of the $20,000 tax write off will be a boost for small builders and tradies, says Master Builders.
"Calendar year 2016 will be a record year for new dwelling commencements, but the situation could look very different from next year,” says HIA Chief Economist, Dr Harley Dale.
