Sales of new homes in Australia inched up 0.7 percent in May thanks to a jump in the apartment sector, with an aggressive cut in interest rates early in the month yet to be felt, an industry survey showed on Thursday. The Housing Industry Association (HIA) said its survey of major builders showed sales of multi-units climbed 21.1 percent in the month, helping offset a 2 percent drop in sales of detached homes. The Reserve Bank of Australia (RBA) cut its main cash rate by a half point to 3.75 percent early in May, followed by a further easing to 3.5 percent in June. "We expect that through the second half of 2012 the ... (full story)