Units are leading the way for dwelling approvals. Source: ThinkStock

The seasonally adjusted figures show that approvals are up by 7.5 per cent between October and November last year, driven mostly by the unit market.

DEVELOPMENT UNDERWAY IN AN UNDERSUPPLIED MARKET

HOW WILL THE PROPERTY MARKET FARE?

New units were the strongest performer with approvals up by 16.7 per cent for the month.

According to the ABS, dwelling approvals on a whole increased during the period most significantly in Victoria where they rose by 19.7 per cent, followed by Tasmania where approvals were up by 8.2 per cent.

Couple with blueprints standing in building framework. Picture: THINKSTOCK Source: ThinkStock

In Queensland approvals were up by 5.7 per cent, in the ACT they were up by 3.3 per cent and in the Northern Territory by 2.9 per cent.

Approvals fell in New South Wales by 1.4 per cent and in South Australia by 16.3 per cent.

Despite the fall New South Wales was the state with the highest number of actual dwellings approved during November with 4013 given the green light.

It was followed Victoria with 2670, Western Australia with 1985 and Queensland and South Australia both with 1725 new approvals.

According to CommSec chief economist Craig James more Australias have been building or buyers homes and that has also lead to an increase in retail trade figures.

He said housing related spending on items such as furniture, hardware, plants and curtains was up.