The home builder scheme appears to have been successful in encouraging new builds and helping protect jobs. The last 2 months indicate homebuilder will help protect jobs in the last half of 2020. With 2 months of data since the introduction of the homebuilder scheme it has helped the decline in new home sales and should protect jobs into 2021. New home sales reacts to changes in consumer confidence and collapsed in the 3 months to May 2020. Confidence in the market has improved. In the 2 months since June new home sales have increased and is 64% higher than the proceeding 2 months. Sales in NSW were slow at the start of 2020 and fell away in March. NSW sales in June and July and approx 9% higher than the previous 2 months and remain lower than levels prior to the pandemic. We expect new home sales will settle in the coming months to a more sustainable level but I believe the number of new homes commencing will continue to slow for the next 12 months.
“Your beliefs become your thoughts, your thoughts become your words, your words become your actions, your actions become your habits, your habits become your values, your values become your destiny” Mahatna Gandhi
From the desk of Nonie Ressler