Vic home building approvals stay ahead

Victoria has beaten NSW in the number of home approved to be built for the eighth month in a row.

HOW THE STATES FARED IN THE NOVEMBER BUILDING APPROVALS DATA:

VICTORIA:

Has been the strongest state in the home building approvals stakes for eight months.

In November the number of homes approved for construction rose 19.8 per cent to an all time high of 6,591, seasonally adjusted, increasing its oversupply of apartments.

NSW:

Australia's largest state shows no sign of overcoming its southern rival and was also one of only two states to register a fall in building approvals in November, down 1.4 per cent to 4,013.

WESTERN AUSTRALIA:

Building approvals rose only 1.2 per cent seasonally adjusted, but that figure hides the fact that it and Victoria's housing markets are the two strongest in the country.

QUEENSLAND, TASMANIA:

Queensland posted a gain of 5.7 per cent to 3,236, a three-month high, and Tasmania rose 1.2 per cent to 237, the highest level since last March.

SOUTH AUSTRALIA

Had the biggest fall in the number of homes approved of all the states, down 16.2 per cent to a 19-month low of 803.


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Source: AAP

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