The total number of dwellings approved rose 1.6 per cent in November, in seasonally adjusted terms, following a 7.2 per cent increase in October, according to data released today by the Australian Bureau of Statistics (ABS).
Daniel Rossi, ABS head of construction statistics, said: “Approvals for private sector dwellings excluding houses increased 6.7 per cent, following a 17.4 per cent rise in October.
“Approvals for private sector houses fell 1.7 per cent, following a 2.9 per cent October increase.
Despite the monthly increase, total dwellings approved have been lower this financial year. In original terms, 70,900 dwellings were approved between July and November in 2023, compared with 81,954 over the same period in 2022.”
Total dwelling approvals increased in Victoria (+7.8 per cent) and South Australia (+6.0 per cent). Falls were recorded in Tasmania (-22.6 per cent), Queensland (-14.6 per cent), New South Wales (-6.9 per cent), and Western Australia (-5.5 per cent).
Approvals for private sector houses were driven lower by Western Australia (-2.8 per cent), Victoria (-2.3 per cent), and Queensland (-0.4 per cent). South Australia (+0.8 per cent) and New South Wales (+0.6 per cent) rose in November.
The value of total building approvals fell 9.2 per cent, following an 8.1 per cent rise in October. The value of total residential building fell 2.1 per cent, made up of a 2.0 per cent decrease in new residential building and a 2.4 per cent fall in alterations and additions.
The value of non-residential building approved fell 18.0 per cent, after an 8.7 per cent October increase.
