new home sales hit 18-year low: hia, page-2

Well, the supply of new housing is continuing to dwindle, so I guess that means lower rates over the next 12 months?

Is it any wonder though? Most of the desirable land is gone. The vast majority of new housing estates are on the outskirts of cities and towns where no one really wants to live. Moreover, the product is expensive compared to existing stock that is much closer to the CBD's/beaches.

So, broadly speaking, apart from unit/townhouse developments, I don't think that rate cuts will spark a massive recovery in the new house and land market. They will merely push up the price of existing stock.