Building Approvals Australia
What is Building Approvals Australia?
It is a measurement to the total number of
dwelling (a place of residence) units approved for private sector
houses and private sector other dwellings within a month.
Why Building Approvals
Australia?
It provides timely estimates of future building
activity and the sampling framework for the quarterly Building
Activity Survey, which is a major contributor to the quarterly
National Accounts estimates. It is an important leading economic
indicator.
Who released Building
Approvals Australia?
It is released by Australian Bureau of Statistics
(ABS).
When is Building Approvals
Australia released?
It is released on monthly basis.
How Building Approvals
Australia
works?
Building Approvals Australia calculates the total
number of dwelling units approved for private sector houses and
private sector other dwellings within a month. However, the result is released in
percentage change compared to the previous month for month over
month (MoM) and in percentage change compared to the particular
month a year ago for year over year (YoY). Below is an example on
how the calculation is being done.
Total number of dwelling units approved in March
2008 = 10,805
Total number of dwelling units approved
in Feb 2009 = 14,208
Total number of dwelling units approved in
March 2009 = 16,383
Percentage change for March 2010 (MoM) = [
(16,383 - 14,208) / 14,208 ] X 100% =
15.3%
Percentage change for March 2010 (YoY) = [
(16,383 - 10,805) / 10,805] X 100% = 51.6%
The results with the growing number of building
approval, mean bullish for the AUD and vice versa.
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