FOLLOWING a revised decrease of 20.6 per cent in December, the total number of new dwellings approved in January increased by 17.1 per cent, in seasonally adjusted terms, according to the latest figures released last week by the Australian Bureau of Statistics (ABS).
A total of 19,851 dwellings were approved in January, compared to seasonally adjusted totals of 16,957 in December and 21,344 in November. When compared to the same month in 2017, the number of dwellings approved in January 2018 was up by 12.0 per cent.
In seasonally adjusted terms, dwelling approvals for the month of January increased in New South Wales (up 29.7 per cent to 5,989 dwellings), Victoria (21.0 per cent to 7,063), Queensland (7.0 per cent to 3,736), Western Australia (2.3 per cent to 1,655) and Tasmania (1.7 per cent to 266).
Dwelling approvals decreased in South Australia (down 1.0 per cent to 920 dwellings).
In seasonally adjusted terms, 9,825 private sector houses were approved in January, which was a 1.1 per cent decrease compared to December's result of 9,931. A total of 9,748 private sector dwellings excluding houses were approved in January, which was a 42.2 per cent increase when compared to December's result of 6,856.
The seasonally adjusted estimate of the value of total building approved rose 2.7 per cent in January. The value of residential building rose 18.3 per cent, while the value of non-residential building fell 20.7 per cent.