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New House Sales Fall to a 10-year Low

New house sales fell in September, falling to their lowest monthly level in more than a decade.

New homes sold in September dropped by 3.5 per cent, following a 1.1 per cent rise in September, according to the Housing Industry Association – Jeld Wen report.

Sales of new houses – excluding apartments and town houses – fell by 3.3 per cent in the month taking them to the lowest level since December 2000, with about 5000 houses changing hands. Sales of new apartments and town houses dropped 5.5 per cent.