The West

Fewer homes sold in November: survey
Fewer homes sold in November: survey

The number of new homes sold across Australia fell by 0.2 per cent in November, following an interest rate rise, a survey shows.

The latest HIA-JELD-WEN New Home Sales Report shows detached house sales fell by 1.1 per cent, but sales of multi-unit housing increased by 8.1 per cent in November, 2010.

Over the three months to November 2010, new home sales fell by two per cent to be 11 per cent lower compared to the corresponding three month period in 2009.

The Reserve Bank of Australia raised its benchmark cash interest rate to 4.75 per cent at its November board meeting.

The West Australian

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