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Housing approvals rise again

Jan 13, 2014, 11:58 by Rachael Whiteley-Black
New figures released by the Australian Bureau of Statistics (ABS) shows approval growth was strongest in Queensland, up 4.9 per cent, followed by South Australia, up four per cent.
New figures released by the Australian Bureau of Statistics (ABS) shows approval growth was strongest in Queensland, up 4.9 per cent, followed by South Australia, up four per cent.

Victoria also recorded a 3.7 per cent increase in dwelling approvals in November, while New South Wales saw a 1.3 per cent rise.

Western Australia (0.6 per cent), Tasmania (0.4 per cent) and the Northern Territory (0.2 per cent) also recorded modest positive results.

The Australian Capital Territory was the only jurisdiction to see a decline in approvals.

“The value of total building approved rose 2.3 per cent in November, in trend terms, after rising for 22 months,” the ABS reports. “This was a result of rises in trend terms for both total residential building (2.6 per cent) and non-residential building (1.9 per cent) value.”

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Reproduced in full with permission: Australian Property Investor Housing approvals rise again 9 January 2014

Attention: This article is intended to provide general information only. Every attempt has been made to ensure the accuracy of this information at the date of publication. The opinions expressed in this article do not reflect those of DHA, its staff or agents. Property prices are subject to fluctuation. Prospective investors should seek independent advice. DHA will not be liable for any loss, damage, cost or expenses incurred or arising by reason of any person relying on information in this article.

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