The First Home Owners Boost pushed new home sales for a third straight month in March according to the latest survey by the Housing Industry Association (HIA).

“It is clear that in the first quarter of 2009 the project home building market was buoyed by the First Home Owners Boost for new dwellings together with very low variable mortgage rates”, said HIA Chief Economist, Dr Harley Dale.

“The First Home Owners Boost for new dwellings is clearly lifting residential building activity and securing jobs within the Australian economy”, added Harley Dale.

New home sales increased by 4.2 per cent in the month of March 2009 while detached home sales increased by 4.1 per cent in the month and were up by a healthy 17 per cent over the quarter.

“An extension by the Federal Government of the First Home Owners Boost would secure jobs and help tackle the chronic shortage of housing across Australia”, said Harley Dale.

“Detached new home sales rose in the March quarter in all five mainland states, the first time we have seen an across the board lift in sales since the beginning of 2007.”