Weak start of the year for new home sales in australia

New home sales in Australia began 2012 on a weak note, a disappointing outcome given there was also a fall in December last year, according to the Housing Industry Association, the voice of Australia’s residential building industry.

The HIA-JELD-WEN New Home Sales report, based on a survey of Australia’s 100 largest builders, showed a decline of 7.3% in total seasonally adjusted new home sales in January 2012.

‘A sharp decline of 19.6% in detached house sales in Victoria weighed on the overall January result,’ said HIA chief economist Harley Dale.

Source: PropertyWire.com