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The number of building permits issued in Australia hits 6-year high
The number of building permits issued in Australia hits 6-year high
May 05, 2010In March, the number of building permits granted in the country has increased by 15.3% compared to February, up to 16,383. The indicator climbs up for the first time since December last year.
Compared with March 2009, the number of permits issued has soared by 51.6%, News.com.au reports with reference to the Australian Bureau of Statistics.
60% of permits were granted for the construction of apartments, apartment buildings and structures of non-residential purposes. Analysts claim the residential segment to be a “locomotive” in growth of permits’ numbers.
We would like to remind you that upon the results of Q1 2010, the average price of Australian residential property has increased by 4.8% compared to the preceding quarter, while soaring by 20% in comparison to the same period of 2009.
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