Housing approvals rise again

Housing approvals rise again

Posted on Thursday, January 09 2014 at 2:22 PM

The number of new dwellings approved across the country rose 2.4 per cent in November, marking the 13th consecutive monthly increase.

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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