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The Housing Industry Association (HIA) released its new home sales data for Australia on Thursday. New home sales fell 2.7% in November, after a 3.0% drop in October.
The HIA's chief economist Harley Dale said that a drop was driven by the slowing population growth, higher mortgage costs, and easing property price growth in Sydney and Melbourne.
Sales of detached homes increased 1.1% in November, while sales for multi-units slid 15.1%.
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