New house sales fall over 29pc as industry adapts to new normal

first_imgHIA believes Queensland’s drop in new homes sale could just be “timing issues”. Picture: Liam Kidston.QUEENSLAND has logged a massive 29.3 per cent monthly fall in new house sales, as residential building eases off 2016’s highs.The Housing Industry Association recorded the fall for June over the May figures, though the result was also 24.1 per cent lower than a year earlier. HIA senior economist Shane Garrett said Australia’s largest states were at their lowest level since October 2013, with national June home sales numbers down 6.9 per cent over May (-11.9 per cent down on June 2016). Free signup to The Courier-Mail’s Real Estate newsletter direct to your inbox More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor2 hours agoMr Garrett said the results supported HIA’s forecasts that new dwelling commencements would continue easing until late 2018.But he said the major states were coming off recent record peaks.“The fall in sales needs to be considered against the backdrop of residential building coming off a record peak of activity in 2016. We project that residential building will still be operating at a historically high level,” he said.The HIA new home sales report said Queensland’s June decline “could just be reflecting timing issues” given it was off “a similarly large increase in May”.The report said “the quarterly figures give a clearer picture” with the June quarter seeing detached house sales down 3 per cent over the March quarter, and having fallen 7 per cent over the same period in 2016.*Follow Sophie Foster on Twitter and Facebooklast_img read more

MSC: Terminals, cargo operations not impacted by network outage

first_imgThe network outage that hit one of Mediterranean Shipping Company’s servers in Geneva last week is not affecting the company’s cargo operations, the company said on Monday. The Swiss-based container shipping heavyweight insists that the outage remains confined to its headquarters, impacting solely some internal data processes, msc.com and MyMSC. The liner major said that significant progress has been made to solve the network outage in Geneva and MSC’s team of experts continues working on the issue. “All MSC departments, terminals and depots are serving customers as usual and cargo is flowing without interruptions. Customers can continue place bookings and online booking platforms such as INTTRA and others remain functional,” MSC statement reads. When approached on Friday by our news desk, the company did not rule out the possibility of a cyber-attack.last_img read more