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Australian housing approvals rise 7.9 pct in January: report

Xinhua, March 3, 2015 Adjust font size:

A significant rise in new apartment construction contributed to record approvals of Australian homes in January, the Australian Bureau of Statistics (ABS) said Tuesday.

ABS data showed the number of buildings approved lifted a seasonally adjusted 7.9 percent to 19,282 in January.

Over the past year to January, building approvals were up 9.1 percent ahead of expectations of a 1.7 percent fall.

January's record approval figures were boosted by a strong lift in the approval of apartment blocks and townhouses, which increased 19.6 percent in January.

For the year to January, approvals lifted 23.6 percent. Endi