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Australia new home sales fall 2.7% in Nov: HIA

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Sales of new homes in Australia slipped for a third straight month in November as demand in the volatile apartment sector cooled a little, a survey showed on Thursday.

[SYDNEY] Sales of new homes in Australia slipped for a third straight month in November as demand in the volatile apartment sector cooled a little, a survey showed on Thursday.

The Housing Industry Association (HIA) said its survey of large-volume builders showed sales of new homes fell a seasonally adjusted 2.7 per cent in November, from October.

A 1.1 per cent increase in sales of detached homes was swamped by a 15.1 per cent drop in multi-unit sales.

REUTERS