2014.11.2619:47:00UTC+00Australia New Home Sales Jump 3.0% In October

The total number of new home sales in Australia climbed 3.0 percent on month in October, the Housing Industry Association said on Thursday, following the flat reading in September.

The amount of construction completed declined 2.2 percent in the three months to October, while residential work fell 1.6 percent and engineering projects dropped3.2 percent.

"Sales are still off their cyclical peak reached back in April this year, but the overall volume of new home sales is still at an elevated level," said HIA chief economist Harley Dale. "That augurs well for healthy new home construction activity persisting into 2015."