After two months of showing a steep rise, sales of new homes slipped again in September. In a survey of the builders conducted by the Housing Industry Association (HIA), it was revealed that the number of new home sales fell by a sharp 4.5% in September when compared to the previous month.

Chief Economist of HIA Harley Dale, however, does not find the decline surprising. "A little bit disappointing that we're not continuing to see new home sales climb higher, but a timely reminder that we need to see more existing homebuyers getting in to the new home market, and more investors getting into the new home market to make up for the first homebuyer market starting to wind back", he said.

While the sales have gone down, it is unlikely that the prices will go down as a result. As has been revealed in a report by Australian Property Monitors (APM), leading real estate analysts, Australian house rates, have currently seen the sharpest and most rapid growth since 2003. In the three months up-to September, the same have grown by 3.7%.

The slump in home sales is, many analysts believe, a temporary phase and will end once the markets stabilize.