Australia new homes sales fall sharply in June

Winten Property Group's Park Rise residential development stands on a street corner in sydney on Jan 24, 2015.
Winten Property Group's Park Rise residential development stands on a street corner in sydney on Jan 24, 2015. PHOTO: BLOOMBERG

SYDNEY (REUTERS) - Sales of new homes in Australia fell sharply in June to the lowest since 2013, though conditions were markedly different across states, an industry survey showed on Monday (July 31).

The Housing Industry Association (HIA) said its survey of large-volume builders showed new home sales fell a seasonally adjusted 6.9 per cent in June, from May, reversing two months of gains.

Sales of detached houses fell 5.7 per cent, while apartment sales dropped 10.7 per cent.

Total sales in June were down 11.9 per cent on the same month last year.

Results by states were mixed, with sales of houses falling in New South Wales, South Australia and Queensland, but rising in Victoria and Western Australia.

HIA said the survey captured 9 per cent of Australia's new home building sector.