Australia new home sales fall in Feb: industry survey
[SYDNEY] Sales of new homes in Australia slipped in February following two months of gains, an industry survey showed on Thursday.
The Housing Industry Association (HIA) said its survey of large-volume builders showed sales of new homes fell a seasonally adjusted 5.3 per cent in February, from January when they rose 3.1 per cent.
Sales of detached homes eased 3.9 per cent, while sales in the volatile multi-unit sector fell 10.6 per cent.
"While the monthly result is a soft one, there is no need to loudly ring alarm bells as often seems to automatically occur every time an economic update disappoints," said HIA chief economist, Harley Dale.
"New home sales are down, but far from out. Over the three months to February 2016, the sale of detached houses increased by 1.8 per cent. The sale of multi-units nudged up by 0.8 per cent."
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Australia’s housing rent hits record high in headache for RBA
Airbnb promises to combat sex work in rentals during Paris Olympics
Hong Kong property deals hit three-year high in April
More homes planned in Media Circle to support housing demand
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise