Sales of new homes in Australia fell in April following a surprisingly strong surge the previous month, according to the latest industry report.
The Housing Industry Association (HIA) said its survey of large volume housebuilders revealed that new home sales declined by a seasonally adjusted 4.7% in April, down from March when they jumped 8.9%. But despite the fall in sales, the survey pointed to healthy home construction levels – which will naturally impact on future housing supply in the country.
“The trend in new home sales reiterates that the peak for the cycle has passed, but the descent we’re now observing is very mild,” said HIA economist Diwa Hopkins.
/RishiSunak-400x310.jpg)
.png)
.jpg)
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment