Housing Industry Association (HIA) data

Jump in new home sales driven by the +17.8% in multi-unit sales (was down 17.3% for the previous month ... yes, this is a 'lumpy' data point). Detached house sales up 2.9% in August (down 7.4% in July)

HIA chief economist Harley Dale comment:

  • Australia having its longest and biggest new home building cycle in its history
  • Now at a mature stage of the cycle
  • But still face a situation where key leading indicators such as HIA New Home Sales point to healthy levels of construction ahead
  • But volumes will be down on the 2015/16 record high