Housing data paints mixed picture of property market

Housing data paints mixed picture of property market

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Property approvals have seen a big jump over the past year - but numbers may be on their way down.

The Australian Bureau of Statistics revealed yesterday that there were 15,958 dwelling units approved in March 2014, seasonally adjusted.

That was a 20 per cent jump on the March 2013 figure, but a 3.5 per cent decline on February 2014.

Private sector housing approvals reached 9,224, which was a 19.4 per cent annual rise and a 0.7 per cent monthly decline.

There were 6,528 approvals for private sector dwellings excluding houses – up 21.6 per cent annually and down seven per cent monthly.

The value of total building was recorded at $6.8 billion, which was a 4.2 per cent annual rise and a 7.4 per cent monthly fall.

Total residential building reached $4.6 billion – up 28.5 per cent annually and up 3.8 per cent monthly.

The value of new residential building was $4 billion, which marked a 30.7 per cent annual jump and a three per cent monthly increase.

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