Home Building Approvals Surge in Australia
Update: 2026-01-07
Description
Home building approvals in Australia surged to a three-and-a-half-year high in November, with a 15.2% increase to 18,400 dwellings. The jump was primarily driven by apartments and townhouses, which climbed 34.1%. However, experts dont expect a repeat next month, and overall approvals remain far below the 240,000 a year needed to hit the national target. Builders face challenges like rising construction costs, skills shortages, and infrastructure delays. Meanwhile, national median rents rose 5.2% over the year to $681 a week, with vacancy rates dropping to 1.7%, the tightest in years. The rental crisis continues, with renters facing ongoing pressure and higher costs.
The Daily News Now! - Every city. Every story. Powered by AI.
Hosted on Acast. See acast.com/privacy for more information.
Comments
In Channel
Download from Google Play
Download from App Store
United States00:00
00:00
x
