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AUSTRALIAN BUILDING APPROVALS RISE 6 PCT IN SEPTEMBER.
CANBERRA, Nov 1 Asia Pulse - The case for another interest rate rise grew today as Australia's appetite for housing showed no bounds, with building approvals rising six per cent in September despite two previous hikes this year.
The Australian Bureau of Statistics (ABS) said building approvals rose a seasonally adjusted 6.1 per cent in September to 13,286 and were up nine per cent over the year.
Most demand came from the unit and apartment market, where building approvals for private sector other dwellings rose 11.2 per cent for the month and 1.3 per cent for the year.
It follows a 36.8 per cent fall in the previous month.
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Source: HighBeam Research, AUSTRALIAN BUILDING APPROVALS RISE 6 PCT IN SEPTEMBER.