13 January 2014 Housing approvals rise again

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

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