Building approvals set the right tone for the year
Investors continue to place their faith in new homes and apartments, according to ABS statistics.
In January, the number of private sector homes approved in Australia increased by two per cent, in trend terms. The ABS noted that figures for private sector homes have now risen for 13 months in a row.
The value of residential building also increased by 1.1%.
The states which hosted the most number of dwelling approvals in January were South Australia (2.7%), Queensland (2.6%), New South Wales (1.5%), Victoria (1.4%) and Western Australia (0.7%).