Prior was -1.2%Total value of building permits at $11.7 billionResidential +4.8%Non-residential +4.0%Q3 permits down -5.4%
There has been a slow, steady decline in inflation-adjusted building permits since 2020. In the latest budget, the Federal Government splurged on spending for capital projects but that’s going to take awhile to get into the pipeline given approval lags.
This article was written by Adam Button at investinglive.com.