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28 Nov 2013
Poor results on HIA new home sales in Australia
FXstreet.com (Barcelona) - HIA new home sales in Australia - month of October - came at -3.8% m/m vs 6.4% last month, with 4.6% falls in detached house sales and 1.4% rise in multi-unit sales.
According to HIA chief economists Harley Dale: “Over the three months to October 2013 the volume of detached house sales increased in all five surveyed states, while the downward trend evident in multi-unit sales since late last year looks to be reversing..That’s a good profile for a leading indicator of new home building activity heading into the end of the year."
According to HIA chief economists Harley Dale: “Over the three months to October 2013 the volume of detached house sales increased in all five surveyed states, while the downward trend evident in multi-unit sales since late last year looks to be reversing..That’s a good profile for a leading indicator of new home building activity heading into the end of the year."