FOLLOWING a revised decrease of 11.8 per cent in October, the total number of new dwellings approved in November increased by 7.0 per cent, in seasonally adjusted terms, according to the latest figures released this month by the Australian Bureau of Statistics (ABS).
A total of 17,569 dwellings were approved in November, compared to seasonally adjusted totals of 16,416 in October and 18,609 in September. When compared to the same month in 2015, the number of dwellings approved in November 2016 was down by 4.8 per cent, in seasonally adjusted terms.
In seasonally adjusted terms, dwelling approvals for the month of November increased in Western Australia (up 24.4 per cent to 1,931 dwellings), Victoria (up 9.4 per cent to 5,370), South Australia (up 7.1 per cent to 892), New South Wales (up 5.1 per cent to 5,440) and Tasmania (up 4.8 per cent to 163).
Dwelling approvals decreased by 4.6 per cent in Queensland to 3,171 dwellings, in seasonally adjusted terms.
In seasonally adjusted terms, 9,350 private sector houses were approved in November, compared to 9,366 in October (a decrease of 0.2 per cent). A total of 7,966 private sector dwellings excluding houses were approved in November, which was a 18.5 per cent increase when compared to October's result of 6,721.
The seasonally adjusted estimate of the value of total building approved rose 2.3 per cent in November following a fall of 29.0 per cent in the previous month. The value of residential building rose 5.6 per cent after falling for three months. The value of non-residential building fell 3.7 per cent and has fallen for two months.