This question was originally asked in askubuntu.com but got no attention so I think maybe this is a better place to ask.
I installed PyQt4 with synaptic.
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You should be able to install the python 3 version of PyQt4 in ubuntu. Open a terminal and type:
sudo apt-get install python3-pyqt4
This way you don't have to compile Qt4 from source. I have also tested this and pyqt4 works with python3.
Source: A quick search in the ubuntu repositories.