Apartment approvals drop 43.5% for July (-17.2% all dwellings)

ABS

The total number of dwellings approved fell 17.2% in seasonally adjusted terms in July, following a 0.6% decrease in June, according to data released today by the Australian Bureau of Statistics (ABS).

Daniel Rossi, head of construction statistics at the ABS, said: “The decrease in the total number of dwellings approved in July was led by a sharp decline in approvals for private sector dwellings excluding houses (apartments), which dropped by 43.5%. This was the lowest level recorded since January 2012 and was driven by a lack of approvals for large apartment developments.”

Building approvals

• Total dwellings approved fell 17.2%.
• Private sector houses approved rose 0.7%, while private sector dwellings excluding houses fell 43.5%.
• The value of non-residential building fell 22.6%.

Seasonally adjusted summary, by state

By state, the number of dwelling approvals fell in Western Australia (-36.9%), Victoria (-17.4%), New South Wales (-16.2%), Tasmania (-14.5%) and Queensland (-13.7%). South Australia rose 19.2%, in seasonally adjusted terms.

Approvals for private sector houses rose in South Australia (18.6%), Queensland (5.8%) and Victoria (1.5%). Declines were recorded in Western Australia (-8.7%) and New South Wales (-6.3%), in seasonally adjusted terms.

Trend summary, by state

Across Australia, the number of dwelling approvals decreased in Victoria (-3.1%), New South Wales (-2.5%) and Queensland (-0.1%). Rises were recorded in Northern Territory (5.2%), Tasmania (3.1%), South Australia (2.0%), Australian Capital Territory (0.7%) and Western Australia (0.6%), in tsubrend terms.

Approvals for private sector houses fell in New South Wales (-1.8%) and Western Australia (-0.6%). South Australia (3.4%), Victoria (0.6%) and Queensland (0.3%) rose, in trend terms.

ABSBuilding Approvals