SYDNEY Aug 28 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)