Dwellings approved decreased by 4.6% in seasonally adjusted terms in September, following an 8.1% increase in the previous month, according to new ABS figures.
“Approvals for private-sector dwellings excluding houses fell by 5.1%, following a 10.1% rise in August,” said Daniel Rossi, ABS head of construction statistics. “Approvals for private-sector houses dropped 4.6%, following a 7.2% bounce last month.”
The decline in dwelling approvals was driven by significant decreases in Western Australia (-11.0%), New South Wales (-10.5%), and Victoria (-8.9%). In contrast, approvals in Queensland saw a substantial increase of 34.6%, with Tasmania and South Australia also recording rises of 18.3% and 5.1%, respectively.
Private-sector houses declined in Western Australia (-12.7%), Victoria (-9.0%), and South Australia (-2.6%). However, modest rises in New South Wales (+1.1%) and Queensland (+0.7%) were insufficient to offset the overall decrease in the sector.
ABS data also showed a 4.9% fall in the value of total building approvals, following a stable result in August. Total residential building values fell by 2.9%, consisting of a 3.6% decrease in new residential building and a 0.7% increase in alterations and additions.
Non-residential building values experienced a more significant decrease, falling by 7.2% in September, following a 2.5% decline in August.
The latest ABS figures can be found at Building Approvals, Australia, September 2023. To compare recent data with the previous two months’ result, read "Dwelling approvals lift in August" and "Home values lift 2.9% in July".
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