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