Financial News: Australia Building Approvals Surge 29.7% In February

Australia Building Approvals Surge 29.7% In February

03/31/2026 - 20:38:00 (RTTNews)

(RTTNews) - The total number of building permits issues in Australia was up a seasonally adjusted 29.7 percent on month in February, the Australian Bureau of Statistics said on Wednesday - coming in at 19,022.

That blew away expectations for an increase of 5.8 percent following the 7.2 percent contraction in January.

On a yearly basis, permits climbed 10.8 percent after slumping 15.7 percent in the previous month.

Private sector dwellings excluding houses rose 101.2 percent to 8,922 and private sector houses rose 0.2 percent to 9,847.

The value of total residential building rose 30.8 percent to A$12.50 billion.

The value of total non-residential building fell 4.4 percent to A$7.93 billion.

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