Strong growth in the German housing sector 18 Aug 2016

  • +30% yy
  • 156,986 new residential building permits
  • 25,834 permits for construction work on existing buildings
  • approvals for "hostel residencies" almost triples to 12,400 yy

That last figure reflects the influx of refugees as the category includes shelters for asylum seekers.

Figures released by the Federal Stats Office.

Demand for property in Germany is being attributed to higher job security and record-low borrowing costs but increased state spending on social housing is also giving the sector an additional boost.

Meanwhile EURUSD is still underpinned at 1.1315 and getting an additional lift now from some EURJPY dip-demand again.