Sales of new homes have fallen, after reaching their highest level in two years in September, a survey shows.
New home sales fell by 3.8 per cent in October, seasonally adjusted, following a 6.4 per cent rise the previous month, the Housing Industry Association (HIA) said on Thursday.
But, HIA chief economist Harley Dale says, the fall is nothing to worry about.
"We shouldn't make too much of one monthly fall in new home sales, following on as it does from two strong results which led to the highest volume since June 2011," he said.
"Over the three months to October 2013, the volume of detached house sales increased in all five surveyed states, while the downward trend evident in multi-unit sales since late last year looks to be reversing.
"That's a good profile for a leading indicator of new home building activity heading into the end of the year."
Sales of new detached house fell 4.6 per cent in October, after two consecutive months of gains.
Sales of flats, townhouses and semi-detached houses were up 1.4 per cent in the month, following a 19.9 per cent jump in September.
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