FOLLOWING an upwardly revised increase of 7.5 per cent in November, the total number of new dwellings approved in December decreased by 1.2 per cent, in seasonally adjusted terms, according to the latest figures released last week by the Australian Bureau of Statistics (ABS).
A total of 17,327 dwellings were approved in December, compared to seasonally adjusted totals of 17,535 in November and 16,311 in October. When compared to the same month in 2015, the number of dwellings approved in December 2016 was down by 11.4 per cent, in seasonally adjusted terms.
In seasonally adjusted terms, dwelling approvals for the month of December increased in Tasmania (up 19.5 per cent to 196 dwellings) and Victoria (up 17.0 per cent to 6,343).
Dwelling approvals decreased in Queensland (down 0.1 per cent to 3,130 dwellings), South Australia (down 5.3 per cent to 847), New South Wales (down 13.2 per cent to 4,660) and Western Australia (down 16.3 per cent to 1,638).
In seasonally adjusted terms, 9,197 private sector houses were approved in December, compared to 9,344 in November (a decrease of 1.6 per cent). A total of 8,014 private sector dwellings excluding houses were approved in December, which was a 0.9 per cent increase when compared to November's result of 7,944.
The seasonally adjusted estimate of the value of total building approved rose 0.4 per cent in December and has risen for two months. The value of residential building rose 0.2 per cent and has risen for two months. The value of non-residential building rose 0.7 per cent after falling for two months.