ABS: building approvals down

ABS

The November 2022 seasonally adjusted estimate:

• Total dwellings approved fell 9.0%.
• Private sector houses approved fell 2.5%, while private sector dwellings excluding houses fell 22.7%.
• The value of non-residential building rose 2.0%.
• The value of total building fell 1.5%.

The total number of dwellings approved fell 9.0 per cent in November, in seasonally adjusted terms, following a 5.6 per cent decrease in October, according to data released today by the Australian Bureau of Statistics (ABS).

Daniel Rossi, ABS head of construction statistics, said: “The result was driven by private sector dwellings excluding houses, which decreased 22.7 per cent. Approvals for private sector houses fell by 2.5 per cent.”

“The November result is the third consecutive month of declines for total dwelling approvals, having fallen 21.7 per cent since August.,” Mr Rossi said.

Across Australia, total dwelling approvals fell in New South Wales (-18.4 per cent), Western Australia (-17.5 per cent), Victoria (-12.7 per cent), and Queensland (-5.6 per cent), while Tasmania (75.7 per cent) and South Australia (10.0 per cent) recorded increases.

Approvals for private sector houses fell across most states, with Victoria (-8.0 per cent), Western Australia (-6.1 per cent), South Australia (-2.6 per cent) and Queensland (-1.2 per cent) decreasing, while New South Wales rose 1.2 per cent in November.

The value of total building approvals fell 1.5 per cent in November, following a 0.4 per cent decrease in October. The value of total residential building approvals fell 4.0 per cent, comprising of a 3.1 per cent decrease in new residential building and a 9.2 per cent decrease in alterations and additions.

The value of non-residential building approved remained strong, increasing 2.0 per cent, following a 2.3 per cent rise in October.

ABSBuilding ApprovalsData