The number of dwellings approved in Australia fell by 0.5 per cent in May, in trend terms, according to data released by the Australian Bureau of Statistics (ABS) today.
“The overall decrease was driven by a decline in private sector houses, which fell 1.3 per cent in trend terms,” said Daniel Rossi, Director of Construction Statistics at the ABS. “This was partially offset by an increase in private dwellings excluding houses, which increased 0.6 per cent.”
Among the states and territories, total dwelling approvals fell in the Northern Territory (6.1 per cent), Tasmania (3.9 per cent), Victoria (1.5 per cent), Western Australia (0.7 per cent) and New South Wales (0.7 per cent), in trend terms. Increases were recorded in the Australian Capital Territory (7.2 per cent), South Australia (0.4 per cent) and Queensland (0.4 per cent).
Approvals for private sector houses fell 1.3 per cent in trend terms, driven by a continued slowdown in the eastern states. Declines were recorded in New South Wales (2.9 per cent), Victoria (1.3 per cent), Western Australia (0.7 per cent) and Queensland (0.1 per cent), while South Australia was flat.
In seasonally adjusted terms, total dwellings increased 0.7 per cent in May, with a rise in Victoria (14.4 per cent) driving the national increase. Meanwhile falls were recorded in Queensland (6.3 per cent), Western Australia (4.7 per cent), South Australia (2.9 per cent) and Tasmania (1.2 per cent), while New South Wales was flat. Private dwellings excluding houses rose 1.2 per cent, while private house approvals decreased 0.3 per cent.
The value of total building approved fell 0.2 per cent, in trend terms. The value of residential building declined 0.6 per cent, while non-residential building rose 0.3 per cent.
