Australian Investment Blog

With a fall in building approvals reported yesterday, is it time to start selling building stocks?Yesterday the Australian March Residential Building Approvals fell -3.5% month on month, however, it should be noted this is an easing from historical highs. Overall, these figures do not bother me; the level of dwelling approvals remains strong, pointing to a marked improvement in new dwelling investment, which is set to add around 0.4% to economic growth in 2014-15. More importantly, when we look at the main stocks in this sector they remain very strong and further consolidation / retracements are buying opportunities and not a time to panic sell.

Boral (BLD) – I remain bullish, ideal buying around $5.40 target $6.50 with stops under 5.10.