Local Building Approvals Rise

Submitted 9/06/2009

Migration for Business Growth

Figures released by the Australian Bureau of Statistics indicate South Australia's total building and private housing approvals increased in April.

Total building approval figures for South Australia increased by a seasonally adjusted 5.1 per cent in April, in line with the national increase of 5.1 per cent from the previous month.

Approvals for private housing in South Australia increased 5.1 per cent, whilst national figures increased 7.2 per cent.

Business SA Chief Executive Officer, Peter Vaughan, said a number of factors contributes to the increase in approvals.

"Building confidence is heavily dependant on interest rates and the rate reductions earlier in the year have had a positive impact on approvals", said Mr Vaughan.

"The assistance to first home buyers has provided a boost to the building sector and the extension of the grant will increase private sector housing approvals."

"The strong population growth also contributed to the demand for housing both state and nation wide."

"South Australia is performing well in the current climate, and it is pleasing that the increase in local building approvals followed the national growth for the month."