The Estate Agent --- Page: 12-13 : May 2007 Original article by Michael Knox
ABIX Summary
Approvals for dwellings are considered to be a good indicator of overall demand for housing. In Australia in 2006, monthly approvals on an original basis reached their peak in May 2006, with 14,585. They had commenced the year with 9,768 in January, finishing with 10,753 in December, and overall dwelling approvals for 2006 were considered to be "low and flat". Based on current indicators and assuming that there are no further increases in interest rates, it is expected that there will be a recovery in the housing cycle by the last quarter of 2007.
