Economic Buzz: Australian house approvals rise 15.8% annually

Australia's private house approvals rose 0.4% month-on-month to 10,631 units in June, marking a second consecutive monthly increase, supported by stronger activity in Queensland, South Australia, and Victoria. The gains offset weaker approvals in Western Australia and New South Wales. On an annual basis, approvals surged 15.8%, accelerating from May's 13.3% growth and recording the strongest pace since September 2024, highlighting continued resilience in Australia's residential construction sector despite elevated borrowing costs.

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