Australia new homes sales rise 4.2pc in March

Sales of new homes in Australia rebounded in March in a further sign that low interest rates are working slowly to resuscitate the market, though sales remain at low levels historically, a survey showed on Wednesday.

The Housing Industry Association (HIA) said its survey of large builders showed sales of new homes rose a seasonally adjusted 4.2 per cent in March, making five months of gains out of the past six.

Sales of new detached houses rose 3.9 per cent, while those in the volatile multi-unit sector climbed 5.6 per cent.

via Business feed http://www.scmp.com/business/economy/article/1227381/australia-new-homes-sales-rise-42pc-march