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Building approvals rise 3.1% in Feb


Approvals for the construction of new homes rose 3.1 per cent in February, which was better than market expectations of a three per cent rise.

Over the 12 months to February, building approvals were down nine per cent, the Australian Bureau of Statistics said on Monday.

Approvals for private sector houses fell 1.2 per cent in the month, and the 'other dwellings' category, which includes apartment blocks and townhouses, was up 7.6 per cent.

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