Property News

Dwelling Approval Up But Still Disappointing - HIA

9 January 2007

Despite a welcome jump in the number of new homes approved in the month of November, the rise will do little to alleviate Australia’s housing squeeze.

Today’s figures show that building approvals rose by 4.1 per cent in November to a level of 12,739 which is still 0.4 per cent lower than in November last year. Approvals for detached houses rose by 3.1 per cent to a level of 8,881, up 3.4 per cent on last year. The number of approvals for flats, units and townhouses rose by 2.4 per cent to 3,421.

Australia’s peak building industry body, HIA, said that the figures demonstrate how poor affordability and a lack of investor interest continues to weigh on the housing sector.

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