New home construction and housing sales down 12 percent on Last year
06/12/2011 
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The Housing Industry Association says that new home construction and home sales dropped 0.8 per cent last month due to a big drop in the sale of units.
The Housing Industry Association (HIA) says that new home construction and sales dropped 0.8 per cent last month due to a big drop in the sale of units and apartments.
The other factor is that first time home buyers are not as active in the market as rising land and house prices are affecting housing affordability. The serviceability of home loan finance is also an issue for first homebuyers who have no equity to put into the house purchase.
On a year to year basis, housing construction and sales were down 12 per cent over the past 12 months.
Rick Adlam has been helping clients with home loan finance since 1985 when he was home consultant with AV Jennings. Rick started Equity Home Loans in 1996 to help homeowners become property investors. Rick currently consults in the development of Mr Mortgage for mortgage brokers and HomeMate for new home buyers.
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