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SYDNEY - New-home sales eased in June and fell sharply during the last financial year, a survey shows.
Units recorded the biggest sales drop in the month.
A Housing Industry Association (HIA) survey of 100 major residential builders and developers found new-home sales slipped by 0.8 per cent in June to 8321 dwellings.
Multi-unit sales were down 20.1 per cent in June after posting rises in the previous two months.
But private new detached house sales went up by 2.3 per cent following a 6.9 per cent fall in May.
Overall, new-home sales fell 12 per cent during the 2006/07 financial year.
HIA chief economist Harley Dale said record low housing affordability was hurting the home-building industry. "New-home sales is the first financial year update for new housing in Australia and shows a considerable weakening in conditions over 2006/07," Dale said.
"This update is a telling indictment of the impact record low housing affordability is having on the home-building industry.
Dale said federal government action was needed to help improve low housing affordability.
- AAP
