Monday, June 1, 2009

WA home sales in April drop

WA sales of new homes fell in April, despite national sales rising for the fourth straight month to their highest level in 14 months, new data shows.

The Housing Industry Association (HIA) survey, released today, found new homes sales increased by 0.5 per cent to 8,191 homes, the highest since February, 2008, after a 3.1 per cent rise in March. 

"The combination of low interest rates and the first home boost have lifted prospects for the housing industry, which is expected to convert to a recovery in home building activity from the June quarter of 2009," HIA chief economist Harley Dale said in a statement. 

"The leading indicators point to housing as an emerging bright spot in the economy." 

But sales in Western Australia fell by four per cent, painting a bleak picture of economic health for the once booming state.

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