AFTER a long snooze, Australia’s housing market is finally showing signs of life.

New home building approvals jumped 12 per cent in September, buoyed by falling interest rates and steady population growth, according to the Australian Bureau of Statistics.

HIA Senior Economist Tom Devitt said both detached houses and apartments were getting a glow-up: approvals for standalone homes rose 4.4 per cent, while multi-unit developments skyrocketed 23.7 per cent.

“Sales in Sydney and Melbourne have been sluggish all year, but the September numbers show the market is waking up,” Mr Devitt said.

New home sales jumped more than 34 per cent in both states, a trend expected to spill over into approvals in the coming months.

Apartments are enjoying their moment too. State government interventions t

See Full Page