Australia March new home sales up 4.3%: survey
SYDNEY (MarketWatch) — Australian new home sales rose 4.3% in March, according to a survey by HIA – Jeld-Wen. Detached housing sales were up 5.8% but multi-unit dwelling sales fell 10%, the survey showed. “The March result for new home sales reflects an ongoing pause in the interest rate hiking cycle and some abatement of the severe weather conditions witnessed in early 2011,” said HIA chief economist Harley Dale. “A sustained period of improvement is required for new home sales and a raft of other leading indicators before we can look ahead to healthy levels of residential building activity,” Dale added.
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Australia March new home sales up 4.3%: survey
SYDNEY (MarketWatch) — Australian new home sales rose 4.3% in March, according to a survey by HIA – Jeld-Wen. Detached housing sales were up 5.8% but multi-unit dwelling sales fell 10%, the survey showed. “The March result for new home sales reflects an ongoing pause in the interest rate hiking cycle and some abatement of the severe weather conditions witnessed in early 2011,” said HIA chief economist Harley Dale. “A sustained period of improvement is required for new home sales and a raft of other leading indicators before we can look ahead to healthy levels of residential building activity,” Dale added.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
View full post on All Stories
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
