News from the Australian Bureau of Statistics shows that the construction sector is picking up the slack left over by the transition from the mining boom.
The figures showed an excellent 9.1% increase in the number of dwellings approved in April, a much better result than the expected 4% by economists.
In absolute terms, that’s 13,774 building approvals in April, a 27% increase on last year’s figures.
A sustained period of low interest rates and renewed buyer sentiment should see these figures increase steadily over the rest of the year.
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