The total number of new home sales in Australia was up a seasonally adjusted 6.9 percent on month in April, the Housing Industry Association said on Tuesday. That follows the 9.4 percent contraction in March.
Detached house sales were up 6.4 percent on month, the data showed, while multi-unit sales spiked 10.3 percent.
"We keep hearing that Australia is one of the world's strongest economies in aggregate," said HIA chief economist Harley Dale in a statement accompanying the data. "That's a redundant concept if people on the ground aren't feeling and experiencing that, and they haven't been for quite some time."
by RTT Staff Writer
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