Construction pipeline in australia stays strong

ABS figures for new dwelling approvals bounced back in July and remain at very high levels by historic standards, said the Housing Industry Association (HIA), the voice of Australia’s residential building industry.

During July 2014, a total of 16,320 dwellings were approved, a 2.5 per cent increase on the previous month. Compared with the previous three-month period, approvals were also up by 2.5 per cent. Over the twelve months to July, new home approvals totalled 195,227.

"Today’s figures mean that Australia’s home building industry has broken yet another record this year," explained HIA Senior Economist, Shane Garrett. "Total seasonally adjusted new home approvals over the past twelve months are the highest since records began back in 1984. Having broken through the 195,000 threshold for the first time, new home building approvals is now at an even higher level than during the 1994 building boom."