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Latest Market Round-up

by Marquette Turner

in Real Estate Radar

The latest figures just released by the Australian Bureau of Statistics for the month of October, reveal the following:

· Growth in retail sales revenue dropped to just 0.2% in October
· New dwelling approvals also disappointed in October, although the 2.8% decline followed on from an unusually strong 6.8% jump in September.
· The volatile apartments sector was behind the fall, dropping 5.5% after a 17.8% hike in September.
· But in good news for the housing sector, new private house finance increased 0.9%, a result that Westpac economics says points to an “unambiguous upturn” in the broader housing sector.

Simon Turner

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