Finance Property Surprise jump in building approvals data
Updated:

Surprise jump in building approvals data

Share
Twitter Facebook Reddit Pinterest Email

Stronger than expected building approvals figures have given the Australian dollar a boost.

The local currency hit 85.01 US cents as the data were released at 1130 AEDT on Tuesday, up from 84.88 cents just before.

The chain about to change the face of Australia
• Watchdogs crack down on comparison sites
• Smart savings tips from an Aussie millionaire

Approvals for the construction of new homes rose 11.4 per cent across Australia in October, the Australian Bureau of Statistics said.

Over the 12 months to October, building approvals were up 2.5 per cent, the Australian Bureau of Statistics said on Tuesday.

Economists expected approvals to have risen five per cent in October.

Approvals for private sector houses fell 0.2 per cent in the month, and the ‘other dwellings’ category, which includes apartment blocks and townhouses, was up 31.3 per cent.

Comments
View Comments