In July, the Australian Bureau of Statistics reported a seasonally adjusted 10.4 percent increase in building permits issued in Australia, reaching a total of 14,797. This surpassed expectations, which predicted a 2.4 percent rise, following a 6.5 percent decline in June.
Permits for private sector houses experienced a modest growth of 0.6 percent for the month, totaling 9,252. In contrast, permits for private sector dwellings excluding houses saw a significant surge, jumping by 32.1 percent to 5,234.
The value of total residential building increased by 9.0 percent to A$8.49 billion, whereas the value of non-residential building rose by 3.2 percent, reaching A$4.69 billion.
