As per ABS data, the number of dwelling approved rose 1.3%, in trend terms, during March. The surge in dwellings was driven by private sector dwellings excluding houses that rose 2.8% in trend terms with private sector houses rising 0.2%. The results reflected that there was no evident impact on building approvals from COVID-19. However, ABS is keeping an eye on potential impacts in the months ahead.
Dwelling approvals increased in New South Wales, Tasmania, Western Australia and Victoria in trend terms.
However, in seasonally adjusted terms, there was 4% fall in dwellings approved in March driven by 8.2% fall in private dwellings excluding houses.
The value of residential building rose 0.5% while non-residential building rose by 2.3%.
Disclaimer
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.
