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Weak sales figures nationally for July
Released 31 September 2010

A sharp decline in new home sales has prompted the Housing Industry Association (HIA) to call on the new government to adopt a three point action plan to reduce the impact of regulation on the cost of new housing supply.

The latest HIA-Jeld-Wen New Home Sales Report, a survey of Australias major residential builders, showed that the number of new homes sold fell by 7% in July 2010, the third consecutive fall. Sales were down by 8% over the three months to July to be 2% lower when compared to the same period in 2009.

HIA Chief Economist Harley Dale said that the severe decline in new home sales highlighted the need for a new government to implement a housing action plan.

Dale also called on the new government to state their commitment to pursuing three key policy priorities including a new housing cost reduction program, a housing and development ministry and recognition and support for small business.

"There needs to be a re-doubling of efforts to reduce the impact of regulation, development charging, and excessive taxation on the cost of new housing supply," Dale said.

"This action needs to include considerable federal level engagement, without which Australias dwelling shortage will continue to increase, placing avoidable upward pressure on existing home prices and disadvantaging households seeking to purchase or rent a dwelling."