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New home sales up 6.2pct in December, says Housing Industry Association

Posted on 31 January 2013

Evidence of recovery in the housing industry emerged today as new home sales jumped in December, a month when property markets are normally subdued. New home sales rose 6.2 per cent in the month, capping off a 3.3 per cent rise in the fourth quarter from the previous three months, data published by the Housing Industry Association showed.
The rise will encourage perceptions that new home building is ready for recovery, the rebound timed well to bolster the economy as mining investment fades in 2013.The Reserve Bank of Australia is betting that as mining investment cools, other areas of the economy such as housing will step up to fill the void in growth………………………………………..Full Article: Source


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