Australian new home sales, or should that be units, move higher in August

David Scutt

Scutt Partners

Australian new home sales, or should that be units, move higher in August. Overall sales increased +3.3% MM, +12.1% YY in August. Overall home sales rose 0.4% leaving the annual increase at 6.1%, the lowest annual growth rate since April last year. On the contrary, unit sales surged 19.8% from July with the annual increase surging to 55.3%. Sales in New South Wales (+11.1%), particularly for units, drove the headline increase with only Western Australia offering additional assistance with a gain of 1.9%. Sales in Victoria, Queensland and South Australia all fell, the former for a third-consecutive month. (VIEW LINK)


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Independent Market Strategist
Scutt Partners

David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...

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