Building approvals lower in May, ABS says, despite rate cuts

THE number of Australian home-building permits granted in May fell from a month earlier, the latest sign deep rate cuts have yet to spur a sustained recovery in the housing market. Approvals to build or renovate houses and apartments declined 1.1 per cent from April, the Australian Bureau of Statistics said. Economists had expected a 1.0 per cent fall. In April approvals rose 9.5 per cent. Login to read the rest of this article Login using your social network Social Login Social Network * Login with Facebook Login with Twitter Login with LinkedIn Login with Google Login Login using your Newspass account User Login Username * Password * Remember me Login Opinion John Durie 'Competition in the...