Building approvals fell 5.5% in March

APPROVALS for the construction of new homes fell 5.5 per cent across Australia in March, official figures show.

Local councils approved the construction of 12,599 new homes, including houses, townhouses and apartments in multi-unit buildings, in March.

That compares to 13,336 approvals in February, seasonally adjusted.

Over the year to March, building approvals were up 3.9 per cent, the Australian Bureau of Statistics said on Thursday.

Economists' forecasts had centred on a 1.5 per cent rise in approvals for March.

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