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

Are units the future homes of Australia?

The current low interest rates have fueled Australia's hot property market, particularly in ...
read more

How affordable are Australian homes?

When it comes to buying a house, affordability is one of the most important aspects for any buyer. ...
read more

Residential growth refusing to slow

New details in residential housing growth mean the economy's strength will continue in the ...
read more

Latest Articles

How is Australian investment faring?

Looking at the investment property market, it appears that the industry is thriving. The Australian ...
read more

Council calls for property reform

Buying a property comes with a wide range of fees and taxes, depending on where you buy and the ...
read more

Home values just keep on rising

Despite an alleged peak in home building having passed and a cooling in growth, there is still a ...
read more