The number of new home sales rose in April but the Housing Industry Association says more interest rate cuts are needed.
The HIA said new home sales rose 6.9% in April, seasonally adjusted, following a 9.4% fall in March.
HIA chief economist Harley Dale said the Reserve Bank needed to “get on with the job” and cut rates on June 5.
“We keep hearing that Australia is one of the world’s strongest economies in aggregate. That’s a redundant concept if people on the ground aren’t feeling and experiencing that, and they haven’t been for quite some time,” Dale said in a statement.
This article first appeared on SmartCompany.
COMMENTS
SmartCompany is committed to hosting lively discussions. Help us keep the conversation useful, interesting and welcoming. We aim to publish comments quickly in the interest of promoting robust conversation, but we’re a small team and we deploy filters to protect against legal risk. Occasionally your comment may be held up while it is being reviewed, but we’re working as fast as we can to keep the conversation rolling.
The SmartCompany comment section is members-only content. Please subscribe to leave a comment.
The SmartCompany comment section is members-only content. Please login to leave a comment.