Australia new homes sales fall 5.7 pct in July - industry

SYDNEY Wed Aug 27, 2014 9:00pm EDT

SYDNEY Aug 28 (Reuters) - Sales of new homes in Australia slipped by 5.7 percent in July but still remained at a historically high level, an industry survey showed on Thursday.

The Housing Industry Association (HIA) said its survey of large builders showed sales of private sector new houses fell 4.7 percent while multi-unit sales pulled back by 10.9 percent after jumping in June.

Record-low interest rates have led to a marked pickup in home prices and clearance rates at auctions, while approvals to build new homes are trending strongly higher. (Reporting by Wayne Cole; Editing by Eric Meijer)

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