January 12, 2012More homes approved in November
Building approvals improved for the month of November, according to new data.
According to the Australian Bureau of Statistics, the number of approved dwellings rose by 8.4 per cent after seasonal adjustment.
This news follows on from a fall in the previous month of ten per cent.
Dwelling numbers in Victoria experienced the greatest increase – up 39.9 per cent – while Queensland and New South Wales also saw improvement.
Private sector houses experienced progress across most states – resulting into a 4.8 per cent improvement overall – with states on the east coast in particular recording an increase in approvals.
Victoria and Queensland reported 13 per cent and 10.8 per cent respectively, while New South Wales recorded 0.3 per cent.
South Australia also improved, jumping by 2.3 per cent.
The ABS highlighted the challenges faced by the industry following recent natural disasters.
"Widespread flooding, and other natural disasters, in the eastern states during late 2010 and early 2011 have not adversely affected participation by providers in the building approvals collection or the quality of estimates in this release," the bureau stated (January 10).
"However, these events may have had an impact on the number of approved dwellings and the value of approved work."View more from - Trade Industry News