Building approvals bounce but appear to have peaked

Building approvals bounce but appear to have peaked

The number of dwellings approved rose 0.6 per cent in October 2014, in trend terms, and has risen for five months according to Building Approvals data released by the Australian Bureau of Statistics today.

Dwelling approvals increased in October in Tasmania (1.9 per cent), Victoria (1.7 per cent), South Australia (0.8 per cent), Australian Capital Territory (0.5 per cent), Western Australia (0.4 per cent) and New South Wales (0.3 per cent) but decreased in the Northern Territory (1.3 per cent) and Queensland (0.7 per cent) in trend terms.

In trend terms, approvals for private sector houses was flat in October. Private sector house approvals fell in South Australia (0.8 per cent), Western Australia (0.4 per cent) and Victoria (0.1 per cent). Private sector house approvals rose in New South Wales (0.7 per cent) and Queensland (0.7 per cent). 

The value of total building approved fell 1.2 per cent in October, in trend terms, and has fallen for 11 months. The value of residential building fell 1.1 per cent while non-residential building fell 1.3 per cent in trend terms.

Further information is available in Building Approvals, Australia (cat no. 8731.0) on the ABS website at www.abs.gov.au

Media note:

  • Please ensure when reporting on ABS data that you attribute the Australian Bureau of Statistics (or the ABS) as the source.

Leave Your Comment