Residential buildings drop for October

The number of building approvals for the month of October slightly dipped by 1.8%, but the Housing Industry Association has declared that there is no need to worry.

The drop comes after the residential building sector had its three and a half year high for the previous month of September. There were variable results for October across states, where Victoria posted the strongest result in building approvals at 23.4%, with West Australia dropping by 6%.

With the strong demand for property, and with the recent announcement by the Reserve Bank of Australia, property builders should still be on their toes as the next year shows a lot of promise for new home buyers.

Read more about this on the Real Estate Business website.