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Sales of new housing units in Australia reversed an October slump and posted a modest increase in November, according to survey results released Tuesday by Australia's Housing Industry Association.
New Home sales increased 0.3 percent from October, compared to a September-to-October decline of 6.0 percent.
Apartment sales declined 4.9 percent in November while stand-alone house sales were up 0.8 percent.
HIA economist Harley Dale said a strong increase in new home building faces a number of obstacles, "including costly planning delays, the re-emergence of land and skilled labor shortages and rising interest rates.
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