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New home approvals fell again in Australia in March after revival in previous month

Posted on 07 May 2013

The number of residential building approvals in Australia fell by 5.5% during March, the largest monthly decline since July of last year. The latest figures represent a disappointing reversal of the growth which occurred in February, according to the Housing Industry Association, the voice of Australia’s residential building industry.
‘The decline in approvals for units was particularly pronounced in March with a fall of 7.7% occurring. This is in comparison to the 4.1% decline in detached house approvals during March,’ said HIA senior economist, Shane Garrett………………………………………..Full Article: Source


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