08 January 2008
Australian immigration for booming house building sector
House-building approvals in Australia were up nearly nine per cent in November and higher employment, wages, Australian immigration and increased apartment building were to blame. The growth went against the predictions of economists surveyed by Bloomberg News and followed a 3.6 per cent decrease in October.
Central bank board minutes indicate: "Most data indicated continued strong expansion in demand in Australia, with continuing pressure on capacity." A Bureau of Statistic report revealed that approvals to build private houses rose 0.3 per cent to 9,340 and approvals for apartments and renovations increased 28.4 per cent to 4,882 in November.
The Australian Industry Group and Housing Industry Association also released a report today, which showed acceleration in the construction industry in December. The construction index rose six points to 59.2 (scores above 50 indicate expansion in the building industry). This was said to be due to new infrastructure projects and commercial property building.
Australia needs builders: Anyone applying for an Australian visa should begin by completing the Australian Visa Bureau's online Australian visa application to see if they meet the Australian visa requirements.