According to rttnews, new home sales in Australia increased for the second straight month in September, the Housing Industry Association said on Wednesday.
Total home sales rose a seasonally adjusted 2.7 percent month-over-month in September, slower than August’s 6.1 percent climb.
Detached house sales grew 3.8 percent over the month, while sales of units dropped by 0.8 percent.
“However, the mix of available indicators suggests that new home building activity has now passed its peak and that the 2015/16 financial year will not be matched in terms new dwelling starts,” HIA Senior Economist, Shane Garrett, said.
“This is particularly the case for multi-residential sales, which have eased by 6.2 percent during the September 2016 quarter compared with the same period a year earlier.”
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