An economic report from the Australian Housing Industry Association (HIA) remarked this morning that the sale of newly constructed homes declined in June by 8.7%, month-on-month. The previous month’s contraction by 0.2% had spooked investors only mildly last month, but today’s reading has many pulling away from the Australian dollar (AUD) in larger numbers.
Housing data worldwide has been showing positive figures. Japan, Britain and the United States all posted significant growth in their respective housing sectors. The slump in Australian housing is bewildering to many who had anticipated a return to growth globally in the housing sector of industrialized nations.
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