Australians build more homes, borrow less

Approvals to build new homes in Australia jumped past all expectations in September thanks to a revival in the apartment sector, yet record-low growth in home loans suggested past cuts in interest rates were yet to gain full traction.

Wednesday’s data from the government showed building approvals climbed 7.8 per cent in September to a three-month high of 13,388. That handily topped forecasts of just a 1 per cent increase and came on top of a hefty 8.8 per cent rise in August.

via Business feed http://www.scmp.com/business/economy/article/1073831/australians-build-more-homes-borrow-less