Growth in Dwelling Approval In July 2020 | ASX Market Update

1 min read | September 01, 2020 04:00 AM AEST | By Team Kalkine Media

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Shares of Noxopharm Limited (ASX:NOX) are trading ~5 percent higher at $0.320 (As at 11:44 AM AEST) following a significant announcement in relation to Veyonda®. Noxopharm has notified that it has attained official approval for the immediate commencement of Phase 1 NOXCOVID-1 study. The Company will now conduct a NOXCOVID-1 study, involving ~40 COVID-19 patients, in hospitals of Ukraine and Moldova.

The latest Housing Affordability Report provided by the Housing Industry Association shows a marginal improvement in the index to 89.7. The report highlighted that the ACT is the third most expensive capital city in the country to purchase a home. The March and June quarters are also considered as they mark the first time that Canberra has surpassed a Dwelling Price to Earnings ratio of six.

As per the data released by ABS, the number of dwellings in July rose by 12%. The rise was driven by private sector dwellings excluding houses, which grew by 22.7% in July after dropping to an eight-year low in June. The private sector houses climbed by 8.5%. The July results, as expected, indicate enhanced consumer sentiment in May, backed by falling COVID-19 cases and easing of restrictions.

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