Building approvals up 7.7% in July
Residential building approvals rose 7.7% in July, following a 9.9% rise in June. Approvals for private homes rose for the 7th consecutive month, with 12,048 new homes approved in July, according to the Australian Bureau of Statistics.
The July figures included a 35% increase in approvals for apartments.
Economists had predicted a 3.3% increase in July, reinforcing their unerring ability to under-estimate everthing that moves in the Australian economy.
