FOLLOWING an upwardly revised increase of 12.6 per cent in November, the total number of new dwellings approved in December decreased by 20.0 per cent, in seasonally adjusted terms, according to the latest figures released last week by the Australian Bureau of Statistics (ABS).
A total of 16,891 dwellings were approved in December, compared to seasonally adjusted totals of 21,118 in November and 18,763 in October. When compared to the same month in 2016, the number of dwellings approved in December 2017 was down by 5.5 per cent.
In seasonally adjusted terms, dwelling approvals for the month of December increased only in Queensland (up 4.2 per cent to 3,463 dwellings).
Dwelling approvals decreased in Western Australia (down 0.5 per cent to 1,598 dwellings), Tasmania (down 2.0 per cent to 259), South Australia (down 12.3 per cent to 885), New South Wales (down 19.1 per cent to 4,673) and Victoria (down 35.2 per cent to 5,811).
In seasonally adjusted terms, 9,904 private sector houses were approved in December, which was a 1.0 per cent increase compared to November's result of 9,802. A total of 6,807 private sector dwellings excluding houses were approved in December, which was a 39.2 per cent decrease when compared to November's result of 11,194.
The seasonally adjusted estimate of the value of total building approved fell 17.8 per cent in December. The value of residential building fell 25.4 per cent, while the value of non-residential building fell 3.4 per cent.