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."
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