Approvals to build new apartments rose by almost one-third in May, according to data released this week by the Australian Bureau of Statistics (ABS).
The latest figures show that the total number of dwellings approved rose 9.9% in seasonally adjusted terms in May, following a 3.9% fall in April.
The increase was driven by approvals for ‘dwellings excluding houses’, which rose 32%. Approvals for standalone houses fell 2.7% in May, following a 0.2% fall in April.
Across Australia, the number of dwelling approvals rose in Western Australia (up 38.7%), Tasmania (26.8%), Queensland (20.9%) and New South Wales (4.7%), in seasonally adjusted terms, but fell in South Australia (down 21.3%) and Victoria (6.6%).
The value of total residential building increased by 5.6% in May, comprising a 5.9% rise in new residential building and a 3.8% increase for alterations and additions.
