Australia's housing sector started the new financial year with some bad news, with a fall in the number of new homes sold.
The Housing Industry Association's data shows new home sales eased 0.4 per cent in July, after rising 0.5 per cent in June.
But HIA chief economist Dr Harley Dale said home sales remain in strong shape, drifting along at historically high levels in mid 2015.
"It appears that the cyclical peak for total new home sales occurred in April, but the subsequent downward trend is very mild," he said on Monday.
Mr Dale said there were little prospects for further growth in new home construction in 2015/16.
However following three years of strong growth that have helped prop up the domestic economy, Australia is in for another healthy year in new home construction, he said.
Detached house sales rose 0.7 per cent in July, while multi-unit sales fell 4.2 per cent.
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