A jump in detached housing has seen residential building approvals in Australia soaring to eleven year highs in the latest sign of increasing home building activity.

On a seasonally adjusted basis, the overall number of dwelling units approved for construction throughout the country rose 6.8 percent in January to come in at 17,514 – the highest number on record since August 2002, according to ABS figures released on Tuesday. Whilst detached housing led the way –…