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Australian Housing the Exception; Sees Decline

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While most other industrialized nations are publishing bullish housing data, Australia appears to be signaling a contraction in its housing market. Yesterday it was a report from the Housing Industry Association (HIA) which revealed an 8.7% decline in new home sales for June. Today it is the level of building approvals.

The report, released by the Australian Bureau of Statistics this morning at 2:30 GMT, underscored a decline in the month-on-month issuance of building approvals by approximately 3.5%. Forecasts were expecting a 2.6% expansion in building permits from last month's decline of over 6%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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