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HIA New home sales post biggest gain in six years
For all the talk of housing bubbles, apartment gluts and a steep deceleration in prices this year, Australia’s residential property market is doing pretty well. Prices continue to trend higher, building approvals have risen for two months in a row and now new home sales have bounced. According to latest figures released by the Housing Industry Association (HIA), sales of new properties surged by 8.9% in March after seasonal adjustments, rebounding strongly following a 5.3% contraction in February. It was the largest percentage increase since January 2010. For the quarter sales increase by 2.8%, although fell 1.3% ... (full story)