The total number of new home sales in Australia climbed a seasonally adjusted 6.8 percent on month in November, the Housing Industry Association said on Monday.
That follows a downwardly revised increase of 2.8 percent on month, which was originally reported higher by 5.5 percent.
Analysts suggest that the spike is due to last month's cut in interest rates from the Reserve Bank of Australia, according to the survey of the nation's 100 largest builders.
"There is, however, a long way to go to restore new home sales volumes to acceptable levels," HIA chief economist Harley Dale said in a release accompanying the data. "At present, sales volumes are running at least 20 percent below what you could conservatively call healthy."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.