The December 2015 Building Approvals confirms that 2015 was a solid year of housing growth and will underpin a high level of new housing building activity in 2016.

 

Building approvals in 2015 totalled 232,078, with the three eastern states contributing 80% of all building approvals, says Wilhelm Harnisch, CEO of Master Builders Australia.

 

“The December building approval data confirms that confidence among new home-buyers and investors remains strong, underpinned by the continuation of low official interest rates,” he said.

 

“The industry expects home building activity to remain buoyant for the rest of 2016, particularly if interest rates stay at the current low settings.”