Housing Industry Association (HIA) in Australia - data for November

Reporting sales of newly built houses (the HIA survey large volume builders for this data point)

+6.1% m/m in November following down 8.5% in October

  • November shows house sales +5.1%, apartment sales +9.3%

Comments on the result from HIA chief economist, Harley Dale:

  • An impressive result at this stage of the new home building cycle
  • The cycle is the largest & longest national new home construction cycle in history

More from Dale, general comments on the importance of construction for the Australian economy:

  • because of the huge impact that new home construction has on broader economic activity

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Notes

  • Although a good result its from November last year
  • New home sales are on a downward trend from their highs in 2015