Australia

Dwelling approvals decrease by 1.8 per cent in August

FOLLOWING an increase of 12.0 per cent in July, the total number of new dwellings approved in August decreased by 1.8 per cent, in seasonally adjusted terms, according to the latest figures released last week by the Australian Bureau of Statistics (ABS).

A total of 20,788 dwellings were approved in August, compared to seasonally adjusted totals of 21,170 in July and 18,907 in June. When compared to the same month last year, the number of dwellings approved in August 2016 was up by 10.1 per cent, in seasonally adjusted terms.

New House
Above: New House / by Alexander Kesselaar.

In seasonally adjusted terms, dwelling approvals for the month of August increased in Victoria (up 1.8 per cent to 6,025 dwellings) and Queensland (up 0.6 per cent to 4,258).

Dwelling approvals decreased in New South Wales (down 2.3 per cent to 7,283 dwellings), Tasmania (down 2.3 per cent to 163), South Australia (down 10.6 per cent to 816) and Western Australia (down 14.2 per cent to 1,646)

In seasonally adjusted terms, 9,305 private sector houses were approved in August, compared to 9,431 in July (a decrease of 1.3 per cent). A total of 11,073 private sector dwellings excluding houses were approved in August, which was a 3.6 per cent decrease when compared to July's result of 11,485.

The seasonally adjusted estimate of the value of total building approved fell 7.7 per cent in August after rising for two months. The value of residential building rose 0.5 per cent and has risen for two months. The value of non-residential building fell 24.3 per cent and has fallen for two months.

More information is available from the Australian Bureau of Statistics website at <http://www.abs.gov.au/>.

Photo: 'New House Lock Up HDR' / Alexander Kesselaar / Licensed under Creative Commons BY-NC-ND 2.0.

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