House approvals rebound
Building approvals lifted materially in September, up by 15 per cent to 15,827.
The driver was detached houses, intentionally boosted by the government's stimulus packages.
Melbourne continues to see home approvals trend higher, while September saw a sharp jump in Perth to the highest monthly result in 5 years.
This is going to be a strong few years for developers in Perth, with the housing supply now becoming acutely tight.
Unit supply is generally declining as population growth is presently lower, though Melbourne continues alone to see approvals rise.
Overall, alongside a 9.4 per cent rise in job ads to 129,544, there is some solid evidence to suggest that Australia is healing, but the economic rebound can't play out in full until travel restrictions are eased.
Source: ANZ
More detailed analysis from data supremo James Foster can be found here.
