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Poor results on HIA new home sales in Australia

FXstreet.com (Barcelona) – HIA new home sales in Australia – month of October – came at -3.8% m/m vs 6.4% last month, with 4.6% falls in detached house sales and 1.4% rise in multi-unit sales.

According to HIA chief economists Harley Dale: “Over the three months to October 2013 the volume of detached house sales increased in all five surveyed states, while the downward trend evident in multi-unit sales since late last year looks to be reversing..That’s a good profile for a leading indicator of new home building activity heading into the end of the year.”
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