New house sales ease back in April 2018

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Wednesday, Jun 06 2018

New house sales ease back in April 2018

New house sales fell in each of Australia’s five largest states during April. Nationally, sales have fallen each month of this year and in April they fell a further 4.2 per cent. New house sales for the year to date are now 3.1 per cent lower, than they were in the same period in 2017.

New house sales are a leading indicator of new dwelling approvals – and ultimately activity on the ground. New home sales were strong through most of 2017 and the fall back in sales reflects a modest slowdown in demand from both owner occupiers and investors.

More in this category: « Sterling recovered on PMI news U.S. weekly jobless claims drop as labor market picks up steam »

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