FOLLOWING a revised decrease of 5.4 per cent in May, the total number of new dwellings approved in June increased by 10.9 per cent, in seasonally adjusted terms, according to the latest figures released last week by the Australian Bureau of Statistics (ABS).
A total of 18,453 dwellings were approved in June, compared to seasonally adjusted totals of 16,640 in May and 17,592 in April. When compared to the same month in 2016, the number of dwellings approved in June 2017 was down by 2.3 per cent, in seasonally adjusted terms.
In seasonally adjusted terms, dwelling approvals for the month of June increased in New South Wales (up 24.8 per cent to 6,073 dwellings), Western Australia (19.6 per cent to 1,778), Victoria (6.1 per cent to 5,410) and Queensland (0.5 per cent to 3,450).
Dwelling approvals decreased in Tasmania (down 8.3 per cent to 202 dwellings) and South Australia (down 20.0 per cent to 995).
In seasonally adjusted terms, 9,678 private sector houses were approved in June, compared to 9,358 in May (an increase of 3.4 per cent). A total of 8,543 private sector dwellings excluding houses were approved in June, which was a 20.0 per cent increase when compared to May's result of 7,109.
The seasonally adjusted estimate of the value of total building approved rose 2.2 per cent in June and has risen for three months. The value of residential building rose 5.5 per cent following a fall of 1.3 per cent in the previous month. The value of non-residential building fell 2.6 per cent after rising for two months.