From the HIA comes February new home sales
In February 2015 total seasonally adjusted new home sales increased by 1.1 per cent, following the previous month’s rise of 1.8 per cent. This development brings overall sales to a new cyclical high. New home sales in February just exceeded the previous peak in April 2014 – by 0.2 per cent.
The latest rise in new home sales occurred against the backdrop of the Reserve Bank of Australia’s (RBA) decision to cut the official cash rate to a new historic low of 2.25 per cent. Private lending rates subsequently declined also (even if with varying degrees of delay).