Australia’s booming population growth will support new housing investment, economists say, as the latest new housing approval numbers posted a stronger-than-expected 7.5 per cent growth in October.
The monthly increase, reflecting a 1.2 per cent seasonally adjusted gain in detached-house approvals and a 19 per cent leap in approvals of apartments, townhouses and semidetached homes, outpaced the consensus estimate of a 1.4 per cent rise.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
