Australian new home sales edge up in Dec: survey

[SYDNEY] 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 per cent in December from November, when they jumped 6.1 per cent.

Sales of houses dipped 1.6 per cent, while apartment sales climbed 6.4 per cent. "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."

REUTERS