Private sector house approvals reach highest levels since 1999

There were 11,489 houses approved for building over November

Private sector house approvals reach highest levels since 1999
Private sector house approvals reach highest levels since 1999

Private sector house approvals jumped 6.1 per cent over November to reach their highest levels since 1999, figures released by the ABS found.

They've now soared by 40 per cent since June.

Daniel Rossi, director of construction statistics at the ABS, said that Federal and state housing stimulus measures and low interest rates have resulted in strong demand for detached dwellings.

There were 11,489 houses approved for building over November.

Queensland led the way in approvals, up 17 per cent, followed by Western Australia up 7.5 per cent.

South Australia saw 2.8 per cent more private sector houses approved, Victoria 1.5 per cent and New South Wales 0.7 per cent.

Private sector house approvals reach highest levels since 1999

Total building approvals were up 2.6 per cent, beating economist forecasts of a two per cent rise.

Over October approvals rose 3.6 per cent.

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

Tags: 
Housing Approvals Abs

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