Sales of new homes in australia soar in september

Sales of new homes in Australia soared in September, according to the Housing Industry Association, reaching their highest level in over two years.

New home transactions increased in both the month and quarter of September 2013, rising by 6.4 per cent - the fastest monthly increase since April 2012. On a quarterly level, deals jumped 3.7 per cent to be up 25.2 per cent compared to the same quarter in 2012.

“Given the recovery in sales is occurring from a record low and that the upward momentum appeared to be stalling in mid-2013, this September outcome is very positive,” commented Chief Economist Dr Harley Dale.