Signs emerging that worst is behind building industry
Led by New South Wales and Victoria, encouraging building approval numbers have bolstered hopes that the troubled building industry is at last emerging from the worst of its woes.
Building sites such as this one in Melbourne have renewed hopes that the sector can emerge from the gloom that has engulfed it for several years. (Image source: Shutterstock.com)
A sizeable jump in approvals of new apartments, townhouses and villas has pointed to the building industry clawing its way out of what has been a testing, often devastating, few years.
The Australian Bureau of Statistics on Monday (2 December) released data that showed dwelling approvals had hit a 22-month high.
The total number of dwellings approved rose 4.2 per cent in October to 15,498, after a 5.8 per cent rise in September.
The October resul…
