{"id":33693,"date":"2020-07-23T00:08:18","date_gmt":"2020-07-22T14:08:18","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/geelongtimes\/?p=33693"},"modified":"2020-07-23T09:42:52","modified_gmt":"2020-07-22T23:42:52","slug":"new-home-sales-soar-in-response-to-homebuilder","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/geelongtimes\/real-estate\/new-home-sales-soar-in-response-to-homebuilder\/","title":{"rendered":"New home sales soar in response  to HomeBuilder"},"content":{"rendered":"<p>Recent data released by the Housing Industry Australia (HIA) show new home sales have risen by 77.6 per cent in June, from a record low result in May.<\/p>\n<p>HIA chief economist Tim Reardon said this result was off the back of the federal government\u2019s HomeBuilder program announced at the beginning of the month.<br \/>\n\u201cThe rebound in new home sales in June does not fully offset the dismal results of the preceding three months and we are cautious of over interpreting data from a single month.<br \/>\n\u201cIt is a clear indication that <a href=\"https:\/\/treasury.gov.au\/coronavirus\/homebuilder\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">HomeBuilder<\/a> will help protect jobs in the sector in the second half of 2020 and into 2021,\u201d Mr Reardon explained.<br \/>\n\u201cAdditional sales data from July and August will be necessary before drawing accurate estimates on the impact of HomeBuilder on employment in the sector.<br \/>\n\u201cNew home sales data is highly responsive to changes in consumer confidence.<br \/>\n\u201cNew home sales fell to their lowest level on record in March and continued to fall in April and May.<br \/>\n\u201cWithout intervention, a significant contraction in the volume of work on the ground would have occurred in second half of 2020 leading to a contraction across the wider economy.<br \/>\n\u201cUp to half a million jobs were at risk without government intervention.<br \/>\n\u201cThe improvement in June can be seen across all the states which is a good indication that the HomeBuilder program is working, to varying degrees in each jurisdiction.<br \/>\n\u201cThe government\u2019s announcement of the HomeBuilder program has seen confidence in the market improve.<br \/>\n\u201cThe cancelation rate (percentage of sales cancelled during the month) remains elevated at 23 per cent, down from a peak of 30 per cent in April,\u201d Mr Reardon said.<br \/>\nAcross the country, Western Australia had the largest monthly increase in June compared to May 2020, rising by 211.2 per cent, South Australia followed, increasing by 157.1 per cent, Victoria (+47.8 per cent), Queensland (+43.3 per cent) and New South Wales (+12.6) also recorded significant monthly increases.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recent data released by the Housing Industry Australia (HIA) show new home sales have risen by 77.6 per cent in June, from a record low result in May. HIA chief economist Tim Reardon said this result was off the back of the federal government\u2019s HomeBuilder program announced at the beginning of the month. \u201cThe rebound [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/timesnewsgroup.com.au\/geelongtimes\/real-estate\/new-home-sales-soar-in-response-to-homebuilder\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":29,"featured_media":33694,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[19],"tags":[],"post_folder":[],"class_list":["post-33693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New home sales soar in response to HomeBuilder - Geelong Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/geelongtimes\/real-estate\/new-home-sales-soar-in-response-to-homebuilder\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New home sales soar in response to HomeBuilder - Geelong Times\" \/>\n<meta property=\"og:description\" content=\"Recent data released by the Housing Industry Australia (HIA) show new home sales have risen by 77.6 per cent in June, from a record low result in May. HIA chief economist Tim Reardon said this result was off the back of the federal government\u2019s HomeBuilder program announced at the beginning of the month. \u201cThe rebound [...]Read More...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/timesnewsgroup.com.au\/geelongtimes\/real-estate\/new-home-sales-soar-in-response-to-homebuilder\/\" \/>\n<meta property=\"og:site_name\" content=\"Geelong Times\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-22T14:08:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-22T23:42:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/timesnewsgroup.com.au\/geelongtimes\/wp-content\/uploads\/sites\/21\/2020\/07\/Untitled-design-5-8.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Dean Webster\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dean Webster\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/geelongtimes\\\/real-estate\\\/new-home-sales-soar-in-response-to-homebuilder\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/geelongtimes\\\/real-estate\\\/new-home-sales-soar-in-response-to-homebuilder\\\/\"},\"author\":{\"name\":\"Dean Webster\",\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/geelongtimes\\\/#\\\/schema\\\/person\\\/d279ea712d198c6ed08eb420e88e6ba8\"},\"headline\":\"New home sales soar in response to HomeBuilder\",\"datePublished\":\"2020-07-22T14:08:18+00:00\",\"dateModified\":\"2020-07-22T23:42:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/geelongtimes\\\/real-estate\\\/new-home-sales-soar-in-response-to-homebuilder\\\/\"},\"wordCount\":324,\"publisher\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/geelongtimes\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/geelongtimes\\\/real-estate\\\/new-home-sales-soar-in-response-to-homebuilder\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/static.timesnewsgroup.com.au\\\/prod\\\/uploads\\\/sites\\\/21\\\/2020\\\/07\\\/Untitled-design-5-8.png\",\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-AU\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/geelongtimes\\\/real-estate\\\/new-home-sales-soar-in-response-to-homebuilder\\\/\",\"url\":\"https:\\\/\\\/timesnewsgroup.com.au\\\/geelongtimes\\\/real-estate\\\/new-home-sales-soar-in-response-to-homebuilder\\\/\",\"name\":\"New home sales soar in response to HomeBuilder - 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