New home building in Australia saw strongest ever year in 2015

New home building approvals in Australia recorded their strongest ever year during 2015, up 13.7% compared to 2014, according to the latest data from the Australian Bureau of Statistics. But they fell towards the end of the year, down by 4% in the final quarter of the year, although there was variation according to housing type. In 2015 as a whole approval for flats increased by 30.2% but for detached houses they fell by 1%. Shane Garrett, senior economist for the Housing Industry Association po...