New home sales mounted a partial recovery in April following a very weak end to the first quarter of 2012, said the Housing Industry Association, the voice of Australia’s residential building industry. HIA Chief Economist, Dr Harley Dale said an April lift in new home sales of both detached houses and multi-units was an imperative result. "Even with this latest improvement, the aggregate volume of both new home sales and local government building approvals imply that in the absence of a rapid and sustained recovery, national new home building is heading to a recessionary level in 2012,” said Harley Dale. “That’s an ... (full story)