Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Monday, 3 October 2016

Partical recovery for new home sales

Part rebound for new home sales

After nosediving by -9.7 per cent in July, new home sales recorded a +6.1 per cent rebound in August according to the Housing Industry Association (HIA).

The volatile multi-unit sector was up by +17.8 per cent after a -17.3 per cent decline in the previous month. 

Source: HIA

According to the HIA, total new home sales expanded by +1.5 per cent over the three months to July.

I can go with that, but there does look to be downside risk in that trend, at least to my chart-reading eyes.

Building approvals figures to be released next up.