Private sector house approvals reach highest levels since 1999

There were 11,489 houses approved for building over November
Private sector house approvals reach highest levels since 1999
Joel Robinson January 7, 2021

Private sector house approvals jumped 6.1 per cent over November to reach their highest levels since 1999, figures released by the ABS found.

They've now soared by 40 per cent since June.

Daniel Rossi, director of construction statistics at the ABS, said that Federal and state housing stimulus measures and low interest rates have resulted in strong demand for detached dwellings.

There were 11,489 houses approved for building over November.

Queensland led the way in approvals, up 17 per cent, followed by Western Australia up 7.5 per cent.

South Australia saw 2.8 per cent more private sector houses approved, Victoria 1.5 per cent and New South Wales 0.7 per cent.

Total building approvals were up 2.6 per cent, beating economist forecasts of a two per cent rise.

Over October approvals rose 3.6 per cent.

 

Joel Robinson

Joel Robinson is the Editor in Chief at Urban.com.au, managing Urban's editorial team and creating the largest news cycle for the off the plan property market in the country. Joel has been writing about residential real estate for nearly a decade, following a degree in Business Management with a major in Journalism at Leeds Beckett University in England. He specializes in off the plan apartments, and has a particular interest in the development application process for new projects.

Editor's Picks

First look exclusive: Abedian family reveal Broadbeach apartment plans
DCF Property break ground at First Light in South Melbourne, with Ironside appointed construction partner
The top seven new North Shore apartments expected to launch in 2025
First look: KTQ sell Garfield Terrace site for $56 million as demand soars for Gold Coast beachfront sites
First look exclusive: Abedian family propose second stage of Greenmount Beach Hotel redevelopment