Approvals climb up

APPROVALS for the construction of new homes rose 0.9 per cent in October, ahead of market expectations of a 1.0 per cent decline.

Approvals for private sector houses were up 1.5 per cent in the month, and the ‘other dwellings’ category, which includes apartment blocks and townhouses, was one per cent lower.

Over the 12 months to October, building approvals were up 18.4 per cent, the Australian Bureau of Statistics said yesterday.