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Financial News: Australia Building Approvals Jump 3.6% In November

Australia Building Approvals Jump 3.6% In November

01/09/2022 - 19:41:00 (RTTNews)

(RTTNews) - The total number of building approvals issued in Australia was up a seasonally adjusted 3.6 percent on month in November, the Australian Bureau of Statistics said on Monday - coming in at 16,448.

That beat expectations for a flat reading following the 12.9 percent drop in October.

Permits for private sector houses rose 1.4 percent on month to 10,892, while permits for private sector dwellings excluding houses jumped 9.7 percent to 5,315.

On a yearly basis, permits for total dwellings sank 7.7 percent, permits for private sector houses dropped 8.1 percent and permits for private sector dwellings excluding houses fell 5.5 percent.

The value of total building jumped 14.8 percent on month.

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