Sales of new homes in Australia fall to a 15 year low

[Nicholas Wallwork]

New home sales in Australia fell to a 15 year low in August and more interest rate cuts are needed to boost the residential property sector it is claimed. The latest figures show that sales of new properties fell 5.3% in August. Detached new home sales were the weakest, falling 5.8% and multi units fell [...]

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[mattio]

Definitely interest rate should be cut in order for people to start buying new homes. In this economy most people just cannot afford houses' prices.

 

[JhaiMitchell]

I"m not sure why but the cut are having minimal effect.

We need the propaganda machine sorry i mean media to start pushing it!

 

[mattio]

I agree that it needs to be advertised. From my life experience majority of people just do not know that they can get tax cut, lower interest rate and etc. and often do not often research it. They need to be directly pointed out to any deal or saving possibility.