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Financial News: Australia Building Approvals Spike In December

Australia Building Approvals Spike In December

02/02/2021 - 20:05:00 (RTTNews)

(RTTNews) - The total number of building permits issued in Australia jumped a seasonally adjusted 10.9 percent on month in December, the Australian Bureau of Statistics said on Wednesday - coming in at 19,537.

That follows the 3.3 percent monthly increase in November.

Permits for private sector houses jumped 15.8 percent on month to 13,648, while permits for dwellings excluding houses added 2.3 percent to 5,625.

On a yearly basis, overall permits rose 22.8 percent, permits for houses surged 55.6 percent and permits for dwellings excluding houses tumbled 19.3 percent.

The value of total building approved rose 4.9 percent in December, in seasonally adjusted terms. The value of non-residential building rose 10.1 percent, having fallen 27.7 percent in November.

The value of total residential building approved rose in December, by 2.3 percent.

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