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Australia June new home sales rise 1.2 pct - industry
July 29, 2014 / 1:00 AM / 3 years ago

Australia June new home sales rise 1.2 pct - industry

SYDNEY, July 29 (Reuters) - Sales of new homes in Australia rose in June thanks to a surge in multi-units, an outcome that augurs well for new residential construction, an industry survey showed on Tuesday.

The Housing Industry Association (HIA) said its survey of large builders showed sales of private sector new homes rose 1.2 percent in June from May. Sales grew by 2.0 percent in the June quarter.

Multi-unit sales surged 15.9 percent in June, while detached house sales fell 1.0 percent.

Record-low interest rates have led to a marked pickup in home prices and clearance rates at auctions, while approvals to build new homes are trending higher. (Reporting by Ian Chua; Editing by Shri Navaratnam)

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