The shock and awe continues, with building approval numbers up nationally, mainly thanks to NSW. Private sector house approvals fell 0.1% (i.e flat) overall, and residential building values only rose 1.1% for the month:
ABS Building Approvals show that the number of dwellings approved rose 0.9% in January 2012, in seasonally adjusted terms, following a fall of 0.8% in December.
Dwelling approvals increased for the month of January in New South Wales (37.6%) and South Australia (6.9%) but fell in Queensland (-22.1%), Tasmania (-3.0%), Victoria (-2.7%) and Western Australia (-0.4%) in seasonally adjusted terms.
In seasonally adjusted terms, approvals for private sector houses fell 0.1% in January with falls in Victoria (-6.7%) and New South Wales (-3.5%), while South Australia (10.5%), Queensland (6.2%) and Western Australia (2.9%) all rose.
The value of total buildings approved increased 52.7% in January in seasonally adjusted terms, following an increase of 2.0% in December. The value of residential building increased 1.1% while non-residential building rose 131.8%.
More to follow later, as always.