Building activity updateUS BUILDING ACTIVITY
US building statistics indicate a lift in building activity. Data for April 2012 shows privately owned house starts were up 2.6% in April on the previous month and up by 29% when compared with April 2011. The number of privately owned new house permits issued in for the 4 months to April 2012 was 26% higher than in the same period in 2011. This indicates demand for lumber within the US market should continue to increase.
NEW ZEALAND BUILDING ACTIVITY
Building activity in the domestic market during Q1 2012 was down on Q1 2011 but now looks set to pick up. April building consent numbers were up, with 1230 new dwellings approved during the month, a 33% increase from April 2011. The largest number of consents for residential dwellings was granted in the Auckland region (360), of which 62 were apartments. 282 new dwellings were approved in the Canterbury region in April 2012, representing a 42% year-on-year increase.
AUSTRALIAN BUILDING ACTIVITY
The dwelling approval rate in Australia continues to fall as it has done so for the past 17 months. Total dwellings approved in April 2012 were down 16.6% on April 2011 numbers. On a seasonally adjusted basis the data looks even weaker, with total approvals down 8.7% on the previous month and 24.1% from a year ago.
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