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Queensland has more new builds approved despite nationwide decrease

Despite fewer new dwellings being approved nationwide, Queensland saw a rise in houses to be built.

Despite a fall in the amount of Australian homes approved to be built, Queensland saw an increase in approved buildings.




According to reports from the Australian Bureau for Statistics (ABS), the amount of new homes approved fell by 4.4 per cent in seasonally adjusted terms.




In Queensland, however, the number of dwellings approved increased by 7.9 per cent in seasonally adjusted terms. It also saw a 5.2 per cent rise in the approved number of private sector houses to be built.




House prices in Queensland are also set to rise by 2.2 per cent this year according to statistics from the National Australia Bank.




ABS reported that South Australia and West Australia also saw rises in the number of approved dwellings by 1.7 per cent and 1.3 per cent respectively.




Chief economist for the Housing Industry Association said that for new home building in 2013 the report does not provide much insight and how the market develops this year will vary depending on location and the type of property.




Posted by Ravin Chatlani



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