| The slump in Australian home construction deepened further in July, dashing expectations that aggressive interest rate cuts in the second quarter of this year would resurrect demand.
A survey of sales of new homes by the Housing Industry Association released Tuesday showed a 5.6% decline in July from June and an 11.6% slide on year. Sharp falls were recorded in both the detached housing segment, which fell 5.5%, and in apartment sales, which fell 6.4%...............................................Full Article: Source |