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. HIA said the survey captured 9 per cent of Australia’s new home building sector. The survey came as home prices fell in most of Australia’s major capital cities in the past week, with Adelaide the exception, according to property statistics firm CoreLogic.
Adelaide’s home prices rose 0.3 per cent in the week ending July 30, while prices fell 0.3 per cent in Sydney, 0.1 per cent in Melbourne, 0.7 per cent in Brisbane and 0.2 per cent in Perth. Auction clearance rates across the five cities during the week was 70.7 per cent, up slightly from the prior week’s 69.9 per cent clearance rate.
Article Source – www.smh.com.au