Australian Building Approvals – trending towards 160,000 p.a.
Posted on 06 April 2010
Another ABS release from last week – building approvals – bounced from it’s traditional January beach holiday.
A couple more months of these circa 14,000/month approvals and we’re getting closer to the sort of supply that we need to clear the RBA’s projected 165,000 per annum from current immigration demand. With the government making the first mutterings of easing back on the immigration throttle, we may see some seeds of rationality enter the supply/demand dynamic.
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[...] new dwellings per annum. Notwithstanding the recent uplift, we are still short of this mark (see here). Notably however, 300,000 of the annual growth is the result of net migration. This is [...]