The ABS released its Building Approvals data for November 2014 which broke a number of records - not only breaking a two decade old monthly approvals record...

The ABS released its Building Approvals data for November 2014 which broke a number of records - not only breaking a two decade old monthly approvals record but taking annualised building approvals to a record high of nearly 200,000. At the macro level this appears to be a boost for the construction cycle. However there are also systemic market risks - specifically in Melbourne where high rise approvals continue to be waved through at break-neck pace - as explored in further detail here. (VIEW LINK)