Building approvals hit all time high

Building approvals have risen by 7.5% in November with 18, 245 granted approvals, making it the highest result for a month since the 1980’s.

Apartment and Townhouse approvals jumped by 16.7% for November. In contrast, private sector housing posted a 0.3% drop. With the market slowly shifting their sights on the RBA as pressures of interest rate cuts for this year are expected, the supply in housing can cover up for demand in the next 12 to 18 months.

Read more about this on the Australian website.