New homes sales in Australia climbed for a second straight month in January, the Housing Industry Association said on Wednesday.
Total new home sales rose a seasonally adjusted 3.1 percent month-over-month in January. This follows a 6.0 percent surge in the previous month.
Detached house sales were up by 5.8 percent while the sale of ‘multi-units’ dropped by the same magnitude, the agency said.
“This year will be another healthy one for detached house and ‘multi-unit’ construction, but we won’t surpass the heights of 2015,” HIA Chief Economist, Dr. Harley Dale, said.
“The new home building sector is crucial to Australia’s economic prospects in 2016 and should continue as a mainstay of domestic economic activity.”
The material has been provided by InstaForex Company – www.instaforex.com