Building approvals – update. As the Australia economy continues to persevere through the global pandemic, building approvals improve as we anticipate new build activity within the next 12-18 months. Courtesy of the Australian Bureau of Statistics (ABS), there are some tabular and graphical illustrations for you to see.
Overall summary
- The seasonally adjusted estimate for total dwellings approved rose 6.8% in August.
- Private sector houses rose 3.5%, while private sector dwellings excluding houses increased 13.7%.
- The value of non-residential building approved rose 43.8%.
Dwellings approved nation wide
The number of dwellings approved in Australia rose 6.8% in August, in seasonally adjusted terms. This follows a 8.6% decrease in July.
By state, total dwelling approvals increased in Western Australia (21.0%), South Australia (11.8%), Victoria (10.5%), Queensland (4.0%) in seasonally adjusted terms. Tasmania (-18.9%) and New South Wales (-2.3%) recorded declines in August.
Approvals for private sector houses rose in South Australia (16.6%), Victoria (8.1%), New South Wales (7.0%), while Western Australia (-7.3%) and Queensland (-5.2%) fell in seasonally adjusted term
Value of building approved
The value of total building approved rose 20.3% in August, in seasonally adjusted terms. The value of non-residential building drove the result, rising 43.8%. The value of total residential building rose 9.2%, comprising a 9.0% increase in new residential building, and a 10.0% rise in alterations and additions.
Disclaimer – The Australian Bureau of Statistics (ABS) is the most authoritative source for information. ABS is Australia’s national statistical agency and an official source of independent, reliable information.
October 2021
