Australia

Dwelling approvals decrease by 8.7 per cent in September

FOLLOWING a decrease of 1.8 per cent in August, the total number of new dwellings approved in September decreased by 8.7 per cent, in seasonally adjusted terms, according to the latest figures released last week by the Australian Bureau of Statistics (ABS).

A total of 18,945 dwellings were approved in September, compared to seasonally adjusted totals of 20,746 in August and 21,128 in July. When compared to the same month last year, the number of dwellings approved in September 2016 was down by 6.4 per cent, in seasonally adjusted terms.

House under construction
Above: House under construction / by Jes.

In seasonally adjusted terms, dwelling approvals for the month of September increased only in South Australia (up 9.4 per cent to 910 dwellings) and Western Australia (up 5.6 per cent to 1,731).

Dwelling approvals decreased in Victoria (down 15.6 per cent to 5,056 dwellings), New South Wales (down 13.3 per cent to 6,314), Queensland (down 11.7 per cent to 3,732) and Tasmania (down 4.0 per cent to 160).

In seasonally adjusted terms, 9,605 private sector houses were approved in September, compared to 9,392 in August (an increase of 2.3 per cent). A total of 9,166 private sector dwellings excluding houses were approved in September, which was a 16.3 per cent decrease when compared to August's result of 10,954.

The seasonally adjusted estimate of the value of total building approved rose 29.9 per cent in September following a fall of 7.7 per cent in the previous month. The value of residential building fell 4.4 per cent after rising for two months. The value of non-residential building rose 118.9 per cent after falling for two months.

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

Photo: 'The great Aussie nightmare' / Jes / Licensed under Creative Commons BY-SA 2.0.

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