1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar

Property News

Building approvals down in April

June 08, 2012

Individuals thinking about buying land could find there are some real bargains to be found at the moment, as new figures show that building approvals were down in April.

The Australian Bureau of Statistics (ABS) found that there was a 1.3 per cent decline in approval levels - the 17th month in a row that a fall has been registered.

This does not, however, mean that there are not any investment opportunities to be found - those who are selling land may be aware of the market conditions and lower prices as a result.

Master Builders Australia responded to the figures, saying that something needs to be done to reinvigorate the residential property market.

Chief economist Peter Jones said: "There were significant declines in dwelling approvals in South Australia and New South Wales although the massive fall reported for Western Australia may have more to do with a changed statistical process."

He warned that the data from April is from before the rate cut took effect, which could mean there is greater confidence in the market than the figures suggest.


Related Articles

Former industrial precincts to become residential hubs

The New South Wales government has announced plans to turn two former industrial areas in north ...
read more

Perth city budget raises fees but aims to revitalise city

The City of Perth budget for 2014/15 was passed on June 25, setting the stage for the ...
read more

Plans in motion for 'Brisbane's backyard'

Walkabout Creek will see a $2.5 million investment from the Queensland government, according ...
read more

Latest Articles

Increased construction figures across New South Wales highlight investment strength

Buyers looking for a great area to consider land investment and property construction in the near ...
read more

Regional Victorian home values increase significantly during last 12 months

Regional Victoria has seen house prices rise again during the last quarter, with new data ...
read more

RP Data: Quarterly rental data highlight slowing capital market

Owners of investment property could be interest to see the latest statistics from RP Data, with the ...
read more