SYDNEY, June 30 Sales of new homes in Australia
fell in May for the first time in five months, possibly a sign
that the housing market may have peaked in this cycle, an
industry survey showed on Monday.
The Housing Industry Association (HIA) said its survey of
large builders showed sales of private sector new homes fell 4.3
percent in May from April.
Still, sales grew by 3.8 percent over the three months to
May to be up 21.0 percent compared with the same period a year
Multi-unit sales dropped 16.1 percent in May, while detached
house sales slipped 2.2 percent.
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 higher.
(Reporting by Ian Chua; Editing by Shri Navaratnam)