Dwelling approvals fall despite growth in private houses

The total number of dwellings approved fell 1.9 per cent in February (seasonally adjusted), after a 2.5 per cent fall in January, according to data released today by the Australian Bureau of Statistics (ABS).

Daniel Rossi, ABS head of construction statistics, said: “Approvals for private sector dwellings excluding houses fell 24.9 per cent in February in seasonally adjusted terms, driven by a fall in the number of approved large apartment projects.”

“Approvals for private houses rose 10.7 per cent in February.”

Approvals for private sector houses rose in all states: Western Australia (20.7 per cent), New South Wales (17.0 per cent), Victoria (12.4 per cent), Queensland (3.4 per cent), and South Australia (2.0 per cent).

Total dwelling approvals fell 28.5 per cent in Queensland. Meanwhile, rises were recorded in Tasmania (39.3 per cent), New South Wales (23.4 percent), South Australia (15.4 percent), Victoria (2.1 per cent), and Western Australia (0.9 per cent).

The value of total building approved fell 16.5 per cent, following a 14.5 per cent rise in January. The value of total residential building fell 16.8 per cent, comprised of a 19.1 per cent decrease in the value of new residential building and a 0.1 per cent fall in alterations and additions.

The value of non-residential building fell 16.0 per cent, after a 11.6 per cent rise in January.

/ABS Public Release. View in full here.