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Australian new home sales hits 5-year high in April

Xinhua, May 29, 2015 Adjust font size:

Record-low Australian interest rates are continuing to invite investment in property, with the sales of new homes hitting a five-year high in April, according to the Housing Industry Association (HIA) Friday.

Sales of new homes have grown 0.6 percent higher in the month, according to the HIA's monthly report.

The new home sales report has shown an increase in each of the first four months of 2015.

Record low interest rates have generated an uptake in property activity, as the central Reserve Bank attempts to fire-up the non- mining sector of the Australian economy. Endi