{"id":65097,"date":"2019-11-07T05:47:27","date_gmt":"2019-11-06T18:47:27","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/goldenplains\/?p=65097"},"modified":"2019-11-06T15:44:49","modified_gmt":"2019-11-06T04:44:49","slug":"new-apartment-approvals-surge","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/goldenplains\/real-estate\/new-apartment-approvals-surge\/","title":{"rendered":"New Apartment Approvals surge"},"content":{"rendered":"<p style=\"text-align: center;\"><strong>Building approvals for new apartments and units leapt by 16.1 per cent during September according to new figures out recently. <\/strong><\/p>\n<p>\u201cMomentum in Australia\u2019s housing market appears to be growing with the volume of new home building approvals expanding by some 7.6 per cent during September,\u201d said Shane Garrett, Chief Economist of Master Builders Australia.<\/p>\n<p>\u201cEncouragingly, last month\u2019s gain was led by apartments and units. This part of the market had experienced difficulties earlier in the year but the volume of new approvals for high density housing has now notched up two consecutive months of growth.<\/p>\n<p>It\u2019s not just apartments on the rise, homes were also up over the reporting period.<\/p>\n<p>\u201cDetached house approvals also rose during September albeit at a more modest rate of 2.7%. This side of the market does tend to move more smoothly from month to month,\u201d Shane Garrett said.<\/p>\n<p>\u201cA range of indicators \u2013 house prices, lending and now building approvals \u2013 all indicate that Australia\u2019s housing market recovery is gaining traction. Housing market conditions have a huge impact on confidence across our economy and today\u2019s figures must be seen as very good news on that front,\u201d he said.<\/p>\n<p>\u201cCommercial building approvals recorded their strongest ever result during August. Not surprisingly, they reverted to more normal levels during September,\u201d Shane Garrett said.<\/p>\n<p>During September, Queensland led the gain in new home building approvals (+19.6 per cent) followed by South Australia (+16.0 per cent). There were more modest increases in Tasmania (+3.4 per cent) and Victoria (+3.3 per cent) during the month.<\/p>\n<p>Despite the favourable national result, several markets saw new dwelling approvals drop during September including Western Australia (-24.5 per cent), the Northern Territory (-9.3 per cent) and New South Wales (-2.5 per cent).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Building approvals for new apartments and units leapt by 16.1 per cent during September according to new figures out recently. \u201cMomentum in Australia\u2019s housing market appears to be growing with the volume of new home building approvals expanding by some 7.6 per cent during September,\u201d said Shane Garrett, Chief Economist of Master Builders Australia. \u201cEncouragingly, [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/timesnewsgroup.com.au\/goldenplains\/real-estate\/new-apartment-approvals-surge\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":129,"featured_media":65098,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[29],"tags":[],"post_folder":[],"class_list":["post-65097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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