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“The cycle of ongoing growth in new home sales was broken in July, with a 6.4 per cent fall compared to June,” stated HIA Senior Economist, Maurice Tapang.
“If the Economic Reform Roundtable is serious about developing meaningful and lasting change to boost productivity and the economy, then the number one priority must be on cutting the excessive regulation that is crippling businesses,” said HIA Managing Director, Jocelyn Martin.
“Investors were responsible for 41 per cent of new homes financed for construction in the past year,” stated HIA’s Chief Economist, Tim Reardon.
“The RBA delivered the third rate cut of this easing cycle, bringing their benchmark cash rate down from 3.85 per cent to 3.6 per cent,” stated HIA Senior Economist Tom Devitt.
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