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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