Building approvals slumped in January

Building approvals slumped 27.9 per cent in January, the Australian Bureau of Statistics says. (AAP)

Building approvals suffered a sharp drop in January with marked falls reported for private sector houses and the more volatile "other dwellings" category.

The Australian Bureau of Statistics said building approvals slumped 27.9 per cent in January, compared to a month earlier, to 12,916 properties.