Building approvals down in February

The number of dwelling approvals in February decreased by 5%, seasonally adjusted, with the number of private sector apartments approved suffering the greatest fall.

The latest figures from the Australian Bureau of Statistics showed the number of private sector houses approved also fell by 2.1%, seasonally adjusted, off the back of an 8.4% rise in January.

Private sector dwellings excluding houses had the greatest decline, falling 8.7% in the month.

However these negative numbers did little to affect the dwelling approval trend term, which rose 0.7% in February, marking its 26^th consecutive rise.

This article first appeared on SmartCompany.