Approvals rise for 2nd month in a row
Building approvals for new homes rose 3.5% in March, continuing a rising trend of improvements in approvals for new houses and apartments.
It’s the second consecutive month to deliver a rise in building approvals, the first back-to-back monthly gains for 18 months. Close to 10,500 homes were approved in March, well above market forecasts which suggested a rise of 2.8%.
Dwelling approval levels remain about 16% below those of a year earlier. But the trend is good - it’s the first time in five years that approvals have increased 11% in two months.
