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New home sales rise for second month

AAP logoAAP 28/10/2016 Garry Shilson-Josling, Economist

Sales of new homes are continuing their bounce back from a two-year low with a second consecutive monthly rise.

Total sales of new homes were up by 2.7 per cent in September, after a 6.1 per cent recovery in August, according to the seasonally adjusted figures from the Housing Industry Association on Friday.

""However, the mix of available indicators suggests that new home building activity has now passed its peak and that the 2015/16 financial year will not be matched in terms of new dwelling starts," HIA senior economist Shane Garrett said.

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