SYDNEY: New Australian home sales have recorded their first monthly fall for 2015, with a drop in sales of detached houses.
New home sales slipped 2.3 percent in May, the Housing Industry Association’s (HIA) new home sales report showed on Tuesday.
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The month’s negative result comes after a run of four monthly rises.
“This is a softer result at face value, but delving beneath the surface reveals an aggregate profile of healthy new home building conditions in 2015,” HIA chief economist Harley Dale said in a statement on Tuesday.
“The decline was driven by a … dip in detached house sales, reflecting weaker monthly demand in four out of the five states surveyed.”
