The Australian Bureau of Statics (or ABS) releases official building approvals figures for September 2019.
- On a seasonally adjusted basis, the building approvals surged by 7.6 per cent in September amid a 16.6 per cent increase in private dwellings excluding houses.
- The seasonally adjusted increase of 7.6 per cent in September witnessed a large increase against the market expectation of 0.1 per cent.
- However, in trend terms, the number of dwellings approved fell 0.8 per cent in September 2019.
- The approvals for private sector houses soared by 2.8 per cent in September 2019, and the value of total building approved surged by 1.4 per cent.