The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of July. At the national level, the number of dwelling approvals rose by a seasonally adjusted 2.5% to 16,318. The overall increase was broad-based, with the volatile unit and apartment segment rising by 5.9% and the more stable house approvals segment increasing by 1.4%. The result beat analysts’ expectations, who had expected a 1.7% rise in approvals over the month.
In the year to July 2014, dwelling approvals rose by a seasonally-adjusted 9.4%, with house approvals up by 14.0% and unit approvals up by 6.3%:
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