Building approval numbers recover after fall

The total number of dwellings approved rose 5.9 per cent in November 2009 following a fall in October, according to ABS figures released today.

In New South Wales, the number of dwelling approvals rose by 6 per cent. Queensland and Victoria also showed strong development recovery, with the number of dwelling approvals rising by 12.4 per cent and 10.2 per cent respectively.

While there was a 2 per cent fall in the number of houses approved in November, there was a 31.7 per cent rise in approvals for all dwellings, suggesting the residential development sector is starting to improve.

The value of approved dwellings increased as well, with the value of new residential buildings approved in November up by 2.2 per cent from October last year.

The total number of dwellings approved rose 5.9 per cent in November 2009 following a fall in October, according to ABS figures released today.

In New South Wales, the number of dwelling approvals rose by 6 per cent. Queensland and Victoria also showed strong development recovery, with the number of dwelling approvals rising by 12.4 per cent and 10.2 per cent respectively.

While there was a 2 per cent fall in the number of houses approved in November, there was a 31.7 per cent rise in approvals for all dwellings, suggesting the residential development sector is starting to improve.

The value of approved dwellings increased as well, with the value of new residential buildings approved in November up by 2.2 per cent from October last year.

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