Building Approvals

There's a lot of talk about strong housing numbers (prices and approvals) putting pressure on interest rates. Given much of the action at the end of last year was from first home buyers, and given the federal assistance has now ended, I think such conclusions are a little premature.

Australian building approvals rose 5.9 per cent to 13,724 units in November, seasonally adjusted, from an upwardly-revised 12,962 units in October. Expectations were for a 3% rise.