The total number of dwellings approved rose 9.9 per cent in seasonally adjusted terms in May, following a 3.9 per cent fall in April, according to data released today by the Australian Bureau of Statistics (ABS).
Daniel Rossi, Director of Construction Statistics at the ABS, said: “The increase in the total number of dwellings approved in May was driven by approvals for private sector dwellings excluding houses, which rose 32.0 per cent.”
“Approvals for private sector houses fell 2.7 per cent in May, following a 0.2 per cent fall in April.”
Across Australia, the number of dwelling approvals rose in Western Australia (38.7 per cent), Tasmania (26.8 per cent), Queensland (20.9 per cent) and New South Wales (4.7 per cent), in seasonally adjusted terms. Dwelling approvals decreased in South Australia (-21.3 per cent) and Victoria (-6.6 per cent).
Approvals for private sector houses fell in New South Wales (-11.1 per cent), South Australia (-4.1 per cent), Queensland (-1.3 per cent), and Victoria (-0.9 per cent), while Western Australia rose 4.9 per cent, in seasonally adjusted terms.
The value of total building approved rose 9.9 per cent in May, following a 5.0 per cent fall in April. The value of total residential building increased by 5.6 per cent, comprised of a 5.9 per cent rise in the value of new residential building approved and a 3.8 per cent increase in the value of alterations and additions.
The value of non-residential building rose 16.5 per cent, following a 16.8 per cent decrease in April.
The trend series for Building Approvals has been reviewed and been reinstated. The trend estimate for total dwellings approved fell 1.5 per cent in May, following a 1.2 per cent fall in April. Private sector houses approved fell 0.5 per cent, while private sector dwellings excluding houses fell 2.5 per cent.
July, 04, 2022