Dwelling approvals on the decline

For third consecutive month.

The number of dwellings approved fell 1.7% in December 2017, in trend terms, and has fallen for three months, according to data released by the Australian Bureau of Statistics (ABS) today.

ABS director of construction statistics, Daniel Rossi said, “Dwelling approvals have weakened in December, driven by a large decline in private dwellings excluding houses. Approvals for private sector houses have remained stable, with just under 10,000 houses approved in December 2017.”

Dwelling approvals decreased in December in the Australian Capital Territory (35%), the Northern Territory (12.9%), New South Wales (5.6%), South Australia (2.4%), Western Australia (1.3%) and Queensland (0.8%), but increased in Tasmania (3.1%) and Victoria (2.5%) in trend terms.

In trend terms, approvals for private sector houses fell 0.2% in December. Private sector house approvals fell in South Australia (1.5%), Western Australia (0.9%) and New South Wales (0.2%) but rose in Queensland (0.4%). Private house approvals were flat in Victoria.

The value of total building approved fell 0.3% in December, in trend terms, after rising for 11 months. The value of residential building fell 0.2% while non-residential building fell 0.4%.

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