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Property approvals 'increased in October'

The number of Australian properties approved increased by 9.3 per cent from September to October, new figures have shown.

Some 13,541 Australian properties were approved for construction in October, which is an increase of 9.3 per cent on the figure recorded in September, figures from the Australian Bureau of Statistics have shown.

From October of 2009 to the same month of this year, the total number of dwelling units approved rose by 1.2 per cent in seasonally adjusted terms.

Some 8,284 of the dwelling units approved were private sector houses, which is 1.5 per cent more than were approved in September but 15.7 per cent fewer than recorded in October 2009.

The remaining 4,576 units approved were other private sector dwellings, which is 23.6 per cent more than were given the go-ahead in September and 67.3 per cent more than in October 2009.

Earlier this week, those seeking to buy their first property in Australia were advised by Queensland's government to look further north than the Gold Coast or Brisbane as it claimed there are good deals to be found there.

Posted by Steve Douglas

- property, october, approvals, building

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