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Approvals go through the roof

Apartment building received a booster shot in July, with new figures showing approvals almost two-thirds higher than the same time last year.

According to data released this week by the Australian Bureau of Statistics, the total seasonally adjusted number of dwelling approvals rose by 10.8 per cent during July 2013 compared with June, to be 28.3 per cent higher than in July 2012.

Approvals for multi-unit dwellings rose by 24.4 per cent, lifting the figure to be 62.5 per cent higher than in July 2012, while approvals for detached houses rose by 3.9 per cent, 12.0 per cent higher than the previous year.

Building approvals increased in Tasmania (by 24.7 per cent), Victoria (22.2 per cent), Western Australia (9.8 per cent) and South Australia (9.7 per cent) but fell 6.7 per cent in New South Wales and 4.0 per cent in Queensland during July 2013.

In trend terms, approvals rose 12.6 per cent in the ACT and 4.0 per cent in the Northern Territory.

The seasonally adjusted value of residential building rose 1.3 per cent.