New home sales fall for second consecutive month, HIA warns
New home sales dropped for the second month in a row in June, according to the HIA. Higher interest rates and policy uncertainty are being blamed for weakening buyer demand.
Why are new home sales falling and what does it mean for my trade work pipeline?
Builders and associated trades like plumbers, electricians, and carpenters face reduced work pipelines as fewer new homes are contracted.
Key takeaways
- New home sales fell for the second consecutive month in June 2024.
- The HIA attributes the slump to higher interest rates dampening buyer demand.
- Policy uncertainty is adding to the slowdown in new housing contracts.
- Tradies reliant on new builds may see fewer jobs in coming months.
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