New home sales in Australia increased notably in August, data from the Housing Industry Association showed Tuesday.
Total home sales climbed 9.1 percent month-over-month in August, driven by very strong results in Victoria and Western Australia.
"The increase in sales in August offsets larger declines in sales in recent months, but it is not sufficient to reverse the decline in sales that is evident since early 2016," HIA's Principal Economist, Tim Reardon, said.
"Victoria has seen record numbers of new building approvals and new home sales are continuing to drive even higher."
"Strong population growth and employment growth, fortified with enhanced first home buyer incentives, is prolonging the boom in building activity."
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.