Australian new home sales fell to fresh multi-year lows in July with declines reported in all of the mainland states. According to the Australian Housing Industry Association (HIA), sales of detached houses slumped 3.1% in seasonally adjusted terms, leaving them at the lowest level since early 2013. Declines were recorded each of Australia’s mainland states, led by a steep 5.1% drop in Victoria. It was the fifth consecutive month that sales had fallen. “The slowdown in Melbourne home sales that started in March is showing no signs of abating,” the HIA said. “This update is consistent with our view that the record ... (full story)