Australia new home sales rebound in August

[SYDNEY] Sales of new homes in Australia rebounded strongly in August after a couple of weak months, perhaps a reflection of state measures to encourage first-time buyers, an industry survey showed on Tuesday.

The Housing Industry Association (HIA) said its survey of large-volume builders showed new home sales jumped a seasonally adjusted 9.1 per cent in August, from July.

Multi-unit sales rose by 21.6 per cent in August, the largest monthly increase since December 2015, though that followed three months of falls. Sales of detached houses rose 7.3 per cent.

HIA said the survey captured 9 per cent of Australia's new home building sector.

REUTERS