The total number of dwellings approved dropped by 1% in January, in seasonally adjusted terms, following a significant 10.1% plunge in December, ABS reported.
Daniel Rossi, ABS head of construction statistics, outlined a significant 9.9% decline in approvals for private houses during January. This marks the fourth consecutive month of decline in trend terms for private sector houses.
In contrast to the decline in private house approvals, the data showed a robust 19.5% increase in approvals for private sector dwellings excluding houses, in seasonally adjusted terms. This surge is primarily attributed to a notable rise in apartment approvals in Queensland.
The ABS report also highlighted varying performance across states.
New South Wales, Victoria, and South Australia experienced declines in total dwelling approvals, with drops of 14.9%, 9.8%, and 7.2% respectively.
Conversely, Queensland, Western Australia, and Tasmania saw increases in dwelling approvals, with Queensland leading at a 31.8% rise, followed by Western Australia at 11.4% and Tasmania at 5.1%.
Private sector house approvals fell across all states, with Victoria experiencing the steepest decline at 16.7%, ABS data showed.
The value of total building approved saw a rebound, with a 14.7% increase after a 6.7% fall in December. This rise is driven by a 19.4% increase in the value of new residential building, despite a 3.1% decrease in alterations and additions.
The non-residential building sector also saw a recovery, with a 12.4% increase following a 10.8% decline in December.
For detailed insights, the full report is available in Building Approvals, Australia by ABS.
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