HIA New Home Sales is among a string of housing market indicators signalling the downturn in new home building – which actually began in 2017 – will continue into 2019.
Total new house sales declined by 2.9 per cent in August, following a fall of a similar magnitude (-3.1 per cent) in July.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
