VICTORIAN BUILDING APPROVALS LEAD THE NATION (VIC)

The latest building approval numbers from the ABS have confirmed that 2015 was a record year for Victorian building approvals. Both residential and non-residential building approvals rose strongly in December 2015, with residential approvals setting a new record of $21.2 billion for the year. In December, building approvals were up 23.1 per cent for Victoria, representing a $2.8 billion stimulus to the economy. There was a large increase in approved units and apartments of 156 per cent for the month.

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