Apartments boost building approvals

Posted by Simon Dehne on November 3, 2015 in Latest News with No Comments

apartmentAustralia’s housing construction boom looks to be over, with approvals for new homes managing only a slight rise in September.
Approvals were up by 2.2 per cent during the month, which was better than market expectations of a one per cent rise.
Over the year to September, approvals rose 21.4 per cent, the Australian Bureau of Statistics said on Monday.
CommSec chief economist Craig James says while Australia’s construction boom is probably over, activity will remain at relatively high levels for at least the next six to 12 months.
“Interest rates remain low and we’re still playing catch up in terms of strong underlying demand,” he said.

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