House sales fell by 8.4 per cent in South Australia in the June quarter – the worst of all mainland states in Australia, according to Housing Industry Association data released yesterday.
In fact, South Australia was the only mainland state to record a decline in the June quarter.
The HIA also noted that there is “the possibility that South Australia may be the most vulnerable new home building market in the second half of 2014.”
This data comes despite Premier Weatherill and Labor budgeting for the fastest growing stamp duty revenue of all states over the forward estimates.
“Each budget is the same story from Labor. It’s been a tough year, but don’t worry, things are about to improve,” said Shadow Treasurer Rob Lucas.
“Labor keeps promising their current policies will deliver prosperity, but those promises keep being broken.
“Premier Weatherill needs to explain why South Australia’s decline is so much higher when compared with other states after 12 years of his Labor Government.”