news

Building approvals fall after rebound

By webmaster

Building approvals have dropped after the November ‘rebound’, according to newly released statistics.

Total dwelling approvals saw a drop of one per cent over the December 2011 month following a sharp 10.1 per cent rise in November 2011, found the Australian Bureau of Statistics.

The biggest decrease was seen in Victoria (16.7 per cent), with further drops in South Australia (9.1 per cent) and New South Wales (5.0 per cent).

An increase of almost 25 per cent was seen in Queensland (24.6 per cent) while Tasmania and Western Australia also saw jumps in approvals, at 15.6 per cent and 6.0 per cent respectively.

However, the estimate of the value of total buildings approved rose by almost 2 per cent in December, after a fall of 0.5 per cent in November.

Approvals for private sector houses saw a 0.2 per cent increase overall, with the biggest rise in Western Australia, 6.3 per cent. New South Wales, South Australia and Victoria all fell.

The value of residential building increased by 1.0 per cent, while non-residential outperformed with a 3.3 per cent growth.

This total increase of 1.9 per cent in December of the value of total building approved followed a decrease in value of 0.5 per cent in November 2011.

Building approvals fall after rebound
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%