National: Apartment Boom Drives Residential Building Growth

Approval rate for apartments continues to rise, boosting the Australian residential building growth beyond expectation.

Latest reports from the Australian Bureau of Statistics show that apartment approvals rose by 30.6 per cent in November, while house approvals dipped 2 per cent. The gain was the largest since November 2016.

Victoria contributed the most to this increase, with an 80 per cent surge since October to 6,359 approvals for private-sector dwelling excluding houses while NSW and Queensland experienced month-on-month declines.

Overall dwelling building approvals rose by 11.7 per cent for the month, beating forecasts of 1 per cent fall by Reuters.

National: Plane Crashes near Essendon Airport

A plane containing five people has crashed into the Direct Factory Outlet near Essendon Airport in Melbourne.

Witnesses reported explosions and black smoke from the crash site. A government source said the Beechcraft airplane was a charter aircraft heading to King Island.

The plane crashed just before 9am today, a police spokesman confirmed. Police, paramedics and firefighters have arrived at the Essendon airway. Information on injuries and fatalities is not available yet.

Tullamarine Freeway is now closed between English Street and McNamara Avenue, and all motorists are advised to leave Tullamarine as soon as possible.