New home building is set to continue into 2022 with a rise in approvals reported in November, according to the Australian Bureau of Statistics (ABS).
The latest figures show that the total number of dwellings approved rose 3.6% in seasonally adjusted terms in November, following a 13.6% fall in October.
The rise was driven by an increase in approvals for apartments and multi-unit homes, which rose 9.7%.
Approvals to build houses continue to level off, up 1.4% in November, following a 3.5% rise in October.
While house approvals are no longer at record highs, the November result remains 25.8% higher than the pre-pandemic level in November 2019, indicating on-going strength in the detached housing market.
Across Australia, the number of dwelling approvals rose in Tasmania (up 40.8%), Queensland (20.0%), South Australia (14.5%) and Victoria (8.9%) but fell in New South Wales (down 18.4%) and Western Australia (1.1%).
Approvals for houses rose in Queensland (7.4%), South Australia (6.4%) and New South Wales (5.4%). Falls were recorded in Western Australia (-12.1%) and Victoria (-0.8%), in seasonally adjusted terms.
The value of total residential building rose 7.1%, comprised of an 8.5% increase in the value of new residential building, and a 0.8% fall in alterations and additions.
