Bundy new home market drops by 9%
THE number of new home sales in Queensland fell by 9.1% in October, according to the latest Housing Industry Association figures — and Bundaberg was no exception.
Bundy Homes owner Michael Randall said he was not surprised, but hoped sales would pick up early next year.
“We were tracking to have a really good year, but for the past few weeks it has been very quiet,” Mr Randall said.
“I am confident that will turn around within six months.”
He said interest rates rises and a lack of investors had stalled the market for new homes.
“The First Home Owners Grant also affected it — with the $14,000 grant for existing homes, they were significantly cheaper than to build a new home, even with the $21,000 grant for new homes,” he said.