2QHIA new home sales index
- Australia's HIA new home sales index rose 0.8% for the quarter
- This was the first quarterly improvement since 4Q 2017
- YoY sales fell -12.4%
The HIA adds:
"Two interest rates cuts, a tax cut and repeal of regulatory restrictions will encourage increased activity in the home building market. These measures, combined with ongoing stable population and employment growth should see new home sales improve toward the end of the year,"
A look at the different states shows:
- Victoria, +5.1%
- Western Australia, +2.9%
- South Australia, +2.6%
- New South Wales -1.7%
- Queensland, -8.9%
Although Queensland and New South Wales fell on the quarter the numbers still represented a moderation of earlier declines.
