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Financial News: Australia New Home Sales Rise For Second Month

Australia New Home Sales Rise For Second Month

06/29/2017 - 01:50:00 (RTTNews)

(RTTNews) - New home sales in Australia increased for the second straight month in May, the Housing Industry Association showed Thursday.

Total home sales climbed 1.1 percent month-over-month in May, faster than the 0.8 percent rise in April.

The total number of new detached house sales grew 2.2 percent over the month, while multi-unit sales dropped by 2.6 percent.

"The results for May again demonstrate how stark the differences currently are across Australia's markets," Shane Garrett, a senior economist at HIA, said.

"Very robust increases in new house sales occurred in Queensland and New South Wales during May, in contrast to Victoria and WA where sharp contractions were experienced during the month."

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