Building approvals rise for 21 months running

Posted on 31/10/2013  
Building approvals rise for 21 months running

Residential building approvals have now risen for 21 consecutive months. ABS figures published today show a 14.4% rise, seasonally-adjusted, in September.

This means the number of dwellings approved has risen 18.6% in the past 12 months.

Not even the Housing Industry Association could put a negative spin on these numbers.

In trend terms, the annual rise in the total number of dwellings approved is 15.1%. Increases in September were led by New South Wales (up 5.8%).

South Australia, Victoria, Queensland and Western Australia also recorded solid rises. The ACT and Tasmania recorded decreases.

The September Quarter Survey of Industry Conditions from Master Builders Australia shows that confidence is the outlook for the economy and for the building industry has surged.

With building approval numbers like these, it’s no wonder.

 

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