Australia Building Approvals for March: +17.4% m/m (expected +3.0%)

Australia Building Approvals for March jump 17.4% m/m

  • expected +3.0% m/m, prior +21.6% 

Check out the ‘prior’ …. +21.6%! And today’s number is +17.4%. There is a huge rise in housing to be built in the pipeline. Long may it continue! More supply just might impact on prices (stop them skyrocketing) … although monetary policy remaining so loose is a huge tailwind. 

Approvals y/y are +47%.

The construction sector is set to remain very busy indeed.  

More:

  • Private sector dwellings excluding houses rose 63.6% (ie. this is multi-unit building, apartments and such). 
  • private sector houses rose 0.1%, in seasonally adjusted terms.T
  • seasonally adjusted estimate for the value of non-residential building approved rose 59.4%
house
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