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Reuters
Reuters
Business

Australia new home sales rebound in August - industry

New homes and land for sale are pictured in southern Sydney August 14, 2014. REUTERS/Jason Reed

SYDNEY (Reuters) - Sales of new homes in Australia rebounded strongly in August after a couple of weak months, perhaps a reflection of state measures to encourage first-time buyers, an industry survey showed on Tuesday.

The Housing Industry Association (HIA) said its survey of large-volume builders showed new home sales jumped a seasonally adjusted 9.1 percent in August, from July.

Multi-unit sales rose by 21.6 percent in August, the largest monthly increase since December 2015, though that followed three months of falls. Sales of detached houses rose 7.3 percent.

HIA said the survey captured 9 percent of Australia's new home building sector.

(Reporting by Wayne Cole)

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