Building approvals set to rebound in Feb

Building approvals are widely tipped to rebound in February, although they are still expected to trend lower over the longer term.

Building approvals are expected to have rebounded in February. (AAP)

Building approvals are expected to have rebounded in February.

Approvals for the construction of new homes are forecast by the market to have jumped 3.0 per cent in February, after falling 7.5 per cent in January, seasonally adjusted.

Housing Industry Association economist Harley Dale said two to three per cent month-on-month growth would be welcomed.

"It would be our expectation there would a partial bounce in February," he told AAP.

However, JP Morgan economist Tom Kennedy said even a large February bounce would be consistent with the idea that building approvals peaked in the middle of 2015 and had been sliding since.

"The chance of getting a decent outcome is amplified in February," he told AAP.

"That said, the longer term underlying trend for building approvals is downwards."