Australian building approvals rose by 3.8 per cent in March

[BoatBoy]

Commentary
12:33 PM, 5 May 2009
Adam Carr

SCOREBOARD: Housing recovery


Australian building approvals rose by 3.8 per cent in March, following an upwardly revised 8 per cent increase in February. Annually, approvals are down 16.5 per cent from -25 per cent last month.

The rise in total approvals reflected a 2.7 per cent increase in private house approvals (after a rise of 0.7 per cent last month) and a 2.8 per cent increase in approvals for apartments, following a 32 per cent increase in February.

On a state basis, approvals were up in Victoria (15 per cent), Queensland (7 per cent), and South Australia (5 per cent). They fell in the other states but this typically followed strong gains i.e. in New South Wales approvals were down 7 per cent after a February gain of 18 per cent.

A great outcome which I think confirms the recovery in housing is underway. It’s particularly positive that gains in approvals were evenly split between houses and apartments – even after a 30 per cent odd lift in apartment approvals the previous month.

Looking forward, I think it is reasonable to expect, with interest rates at historically low levels, an ongoing rapid increase in approvals.

http://www.businessspectator.com.au...g-hopes-pd20090505-RR4NN?OpenDocument&src=sph

 

[BayView]

I would say that the majority of these would be your FHB tract houses.

Long live the Grant.

Add a few more for the cashed-up 2nd, 3rd home buyers and that's about it.

 

[craigb]

FHB's for sure. but its still money in the hurdy gerdy!!

 

[buzzlightyear]

If I am wanting to build, I put in my submission and takes months before it is either approved or not. Then surely March approvals will reflect submissions made months before.

Or am I missing something ?

 

[BayView]

If I am wanting to build, I put in my submission and takes months before it is either approved or not. Then surely March approvals will reflect submissions made months before.

Or am I missing something ?

Nope; you're pretty correct there.

We have applied for permits for:
a) an extension on the deck of existing PPoR
b) plans for building on the block.

The designer, who is ex-Council, said "don't expect any action inside 6 months".

The deck took just over 5 months, the build permit is in, but not up to that prediction timeframe yet.

 

[craigb]

Thats true! but its all numbers on a page! and the pages look good!

I don't know how many millions,billions/trillions were lost on the share markets, all told , but if its lost?
WHERE DID IT GO??????
couldn't just disapear from the planet, if it was real money!
But it has, Sooooo was it realy there in the first place?

Its always the numbers on a page.