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Australian New-Home Sales Fall to Lowest Level on Record

Feb. 29 (Bloomberg) -- 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

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