Australian New-Home Sales Fall to Lowest Level on Record

Australian new-home sales dropped in January to the lowest level on record, the Housing Industry Association said in a report today.

Total sales declined 7.3 percent to 5,831 from a month earlier, the Canberra-based industry group said in a statement. Detached house sales slumped by 7.4 percent and apartments sales also weakened, it said.

To contact the reporter on this story: Brendan Murray in Sydney at brmurray@bloomberg.net

To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.