New home sales have continued a downwards trajectory, with the Housing Industry Associating reporting its home sale index falling 5.1 percent in June. This follows a 6.4 percent drop in May.
Melbourne recorded the largest falls, sliding 10 percent for the month. Western Australia and Queensland trailed, falling 5.2 and 5.1 percent respectively. South Australia recorded a fall of 4.2 percent.
» New home sales fall for second month – The Age, 2nd August 2010.