Surge in Australian building approvals
Australian building approvals have hit their highest level for almost 20 years
The Australian Bureau of Statistics said 16,361 dwellings were approved across the country in November 2013.
This figure – adjusted to allow for seasonal variations and outliers – is the highest since September 1994.
It represented a 2.4 per cent rise from the previous month and a 23.9 per cent hike from the same month a year earlier.
All states bar one saw increases in building approvals in November, with Queensland enjoying the greatest jump.
Queensland approvals were up 4.9 per cent from the previous month, South Australia 4.0 per cent and Victoria 3.7 per cent.
New South Wales was up 1.3 per cent, Western Australia 0.6 per cent, Tasmania 0.4 per cent and the Northern Territory 0.2 per cent.
The Australian Capital Territory saw a 9.0 per cent dip in building approvals.
Approvals for private sector houses across Australia rose 1.1 per cent in November, while private sector non-house dwelling permissions grew 4.4 per cent.