Decline in new home sales eases
The fall in Melbourne property values further eased in April with positive…
3 April 2019
Seasonally adjusted data released on Tuesday by the Australian Bureau of Statistics uncovered that apartment blocks and townhouses which fall under the ‘Private dwellings’ category rose by 64.6 per cent.
BIS Oxford economist Maree Kilroy acknowledged the surprising strength of the overall increase, saying apartment approvals in New South Wales and Victoria drove the positive figure – which beat economist expectations of a 1.8 per cent decline.
The value of total building approved rose 1.3 per cent in trend terms.
The Australian dollar briefly rose to 71.12 US cents, after trading at 71.05 immediately before the data’s AEST release.