Australian new home sales edge up

Australian new home sales edge up
10/02/2017 , by , in INTERNATIONAL

Sales of new homes in Australia edged higher in December, a solid result given it built upon a sharp rebound the month before, an industry survey reported on Thursday.

The Housing Industry Association (HIA) said its survey of large-volume builders showed new home sales rose a seasonally adjusted 0.2 percent in December from November, when they jumped 6.1 percent.

“The strong finish to 2016 for new home sales admittedly follows a very weak month in October,” said HIA chief economist Harley Dale. “Obviously it is better that new home sales bounced back rather than kept falling.”

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