NEWS
Sales of new homes rose in April for the fourth straight month, to their highest level in 14 months, which will lead to a sustained recovery during the second half of this year, a home building industry group says.
The Housing Industry Association (HIA) survey found new homes sales increased by 0.5 per cent to 8191 homes, the highest since February, 2008, after a 3.1 per cent rise in March.
The HIA forecasts that new home starts will increase by 6900, or 11 per cent, in the second half of 2009.
Australian building approvals rose by 3.5 per cent to 10,494 units in March, seasonally adjusted, the Australian Bureau of Statistics (ABS) said last month.
Sales of detached homes drove the overall sales increase in April, while apartment sales remained subdued.
Source: news.com.au
Published: 01 June 2009
