FXstreet.com (San Francisco) - New Home Sales in Australia rose 2.8% in June from 0.7% in the previous month, increasing for a second consecutive month, the Housing Industry Association reported Monday. The rise is reportedly due to a 15.7 per cent jump in the sales of multi-units.
“Lower interest rates will assist new housing in 2012/13, but the large gap between the cash rate and variable mortgage rates will blunt their positive impact,” said HIA Chief Economist, Dr. Harley Dale. “Investment and reform from governments is the key ingredient to lifting the new housing sector substantially above the recessionary levels of 2012.”
“Lower interest rates will assist new housing in 2012/13, but the large gap between the cash rate and variable mortgage rates will blunt their positive impact,” said HIA Chief Economist, Dr. Harley Dale. “Investment and reform from governments is the key ingredient to lifting the new housing sector substantially above the recessionary levels of 2012.”
