MW: Australian Oct new home sales up 2.4% - survey
By Sarah Turner
SYDNEY (MarketWatch) -- New home sales in Australia rose 2.4% on a seasonally-adjusted basis in October, according to a survey by the Housing Industry Association and Jeld-Wen. The monthly increase reflects a 3% rise in sales of detached houses. Apartment sales fell 2.6% in the month, according to the survey. Last month's figure was revised to a drop of 1.7% from a gain of 0.6%. The HIA said is currently forecasting a decline of 9% in total new housing starts for calendar year 2011.
