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Property approvals have seen big jumps over the past year – but numbers may be on their way down.
The Australian Bureau of Statistics revealed yesterday that there were 15,958 dwelling units approved in March 2014, seasonally adjusted.
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That was a 20 per cent jump on the March 2013 figure but a 3.5 per cent decline on February 2014.
Private sector housing approvals reached 9,224, which was a 19.4 per cent annual rise and a 0.7 per cent monthly decline.
There were 6,528 approvals for private sector dwellings excluding houses – up 21.6 per cent annually and down 7 per cent monthly.
The value of total building was recorded at $6.8 billion, which was a 4.2 per cent annual rise and a 7.4 per cent monthly fall.
Total residential building reached $4.6 billion – up 28.5 per cent annually and up 3.8 per cent monthly.
The value of new residential building was $4 billion, which marked a 30.7 per cent annual jump and a 3 per cent monthly increase.
