Australia new home sales fall sharply in June

Australia new home sales fall sharply in June
02/08/2017 , by , in INTERNATIONAL

Sales of new homes in Australia fell sharply in June to the lowest since 2013, though conditions were markedly different across states, an industry survey showed on Monday. The Housing Industry Association (HIA) said its survey of large-volume builders showed new home sales fell a seasonally adjusted 6.9 % in June, from May, reversing two months of gains.

Sales of detached houses fell 5.7 percent, while apartment sales dropped 10.7 percent. Total sales in June were down 11.9 percent on the same month last year. Results by states were mixed, with sales of houses falling in New South Wales, South Australia and Queensland, but rising in Victoria and Western Australia.HIA said the survey captured 9 percent of Australia’s new home building sector. (Reporting by Wayne Cole; Editing by Kim Coghill)

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