Apartment slump pushes home sales down

A fall in the number of new apartments sold has led to a drop in total new home sales in Australia in July, Housing Industry Association figures show.

Fewer new apartments were sold in Australia in July, contributing to a slide in all new home sales in the month.

A 15.7 per cent drop in apartment sales weighed on overall new home sales in July as total new home sales fell by 3.7 per cent, with detached house sales only declining 0.4 per cent in the month, latest Housing Industry Association figures show.

Victoria was the only state in which sales grew in July, by 9.8 per cent.