Home sales in decline

NEW home sales have resumed their downward slide after two months of gains, falling in June to their lowest level since October 2013.

A survey of Australia’s biggest home builders by the Housing Industry Association shows the number of new houses and units sold fell 6.9 per cent in June, compared with May.

It followed a 0.8 per cent and 1.1 per cent increase in April and May.

Sales of detached houses were 5.8 per cent lower in June and unit sales tumbled 10.7 per cent.