Senior Economist of Housing Industry Association (HIA), Geordan Murray stated that approvals for home building tumbled by a further 4.9% in June as the impact of COVID-19 induced restrictions continued to weigh on this industry.
The drop in new home approvals over the previous two years is substantial. The monthly dwelling approvals have plummeted a further 22.9% since February 2020.
Additionally, the new survey done by HIA signified an instant boost in sales during June, and early signs indicate July was another solid month for sales.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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