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Monday 31 July 2017

New home sales at the lowest level since 2013

Crunch time

More signs that the peak of the residential construction cycle has been and gone.

There was a 5.8 per cent drop in new house sales in June, and a 10.7 per cent drop in multi-units. 

Considerable variation around the traps, with substantial monthly drops in New South Wales, Queensland, and South Australia.

Source: HIA

The Housing Industry Association expects dwelling starts to decline for next 18 months.