Building approvals edged up 0.7% in May

Building approvals rose by a seasonally adjusted 0.7 per cent in May. (AAP)

Building approvals rose by a seasonally adjusted 0.7 per cent in May, ending a two-month run of declines.

Building approvals rose by 0.7 per cent in May, ending a two-month run of declines but coming in below expectations.

Approvals for private sector houses fell 0.3 per cent on a seasonally adjusted basis, but the "other dwellings" category that includes apartment blocks and townhouses, rose 1.2 per cent to lift the overall figure.

Over the 12 months to May, total building approvals for dwellings fell by 19.6 per cent, compared to 24.2 per cent in the year to April, the Australian Bureau of Statistics said on Wednesday.

Source AAP

Stay up to date with SBS NEWS

  • App
  • Subscribe
  • Follow
  • Listen
  • Watch