29.08.201622:23:00UTC+00Australia July Building Permits Spike 11.3%

The total number of building permits issued in Australia surged a seasonally adjusted 11.3 percent on month in July, the Australian Bureau of Statistics said on Tuesday - coming in at 20,987.

That beat forecasts for an increase of 1.1 percent following the 2.9 percent contraction in June.

On a yearly basis, building approvals climbed 3.1 percent versus expectations for a decline of 8.3 percent after slipping 5.9 percent in the previous month.

Approvals for private sector houses fell 0.5 percent to 9,342 houses. Approvals for the private sector excluding houses spiked 23.0 percent to 11,393 dwellings.

By region, dwelling approvals increased in New South Wales (2.4 percent) and Victoria (0.5 percent) but decreased in Tasmania (3.7 percent), Northern Territory (3.2 percent), Australian Capital Territory (2.6 percent), Queensland (1.8 percent), South Australia (1.8 percent) and Western Australia (1.8 percent).

The value of total building approved rose 1.9 percent in July and has risen for seven straight months.

The value of residential building added 0.9 percent, while non-residential building advanced 3.9 percent.