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Australia new homes sales rise 3.1% in Jan

Wednesday, March 2, 2016 - 08:13

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Sales of new homes in Australia rose for a second straight month in January in a positive omen for employment and consumption, an industry survey showed on Wednesday.

[SYDNEY] Sales of new homes in Australia rose for a second straight month in January in a positive omen for employment and consumption, an industry survey showed on Wednesday.

The Housing Industry Association (HIA) said its survey of large-volume builders showed sales of new homes rose a seasonally adjusted 3.1 per cent in January, from December when they had jumped 6.0 per cent.

Sales of detached homes increased by 5.8 per cent, while multi-unit sales fell by the same amount.

"This year will be another healthy one for detached house and multi-unit construction, but we won't surpass the heights of 2015," said HIA chief economist, Harley Dale.

"The new home building sector is crucial to Australia's economic prospects in 2016 and should continue as a mainstay of domestic economic activity."

REUTERS

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