Dwelling approvals rise year on year
The number of new dwellings approved in Australia continues to rise in trend terms, according to the Australian Bureau of Statistics.
During November, dwelling approvals rose 5.7% in trend terms compared to the same month in 2013.
Each state performed differently on a month by month basis. Tasmania recorded the highest month on month increase (3.8%), followed by the Australian Capital Territory (3.2%), the Northern Territory (2.9%), Victoria (2.8%) and Western Australia (0.9%).
There were month-on-month contractions in building approvals in Queensland (2.4%), New South Wales (1.4%) and South Australia (1.1%).