Building approvals dropped in April to the lowest level in eleven years, according to data released this week by the Australian Bureau of Statistics (ABS).
The latest figures show that the total number of dwellings approved fell 8.1% in April, in seasonally adjusted terms, following a 1.0% decrease in March.
The overall decline was driven by a fall in approvals for ‘dwellings excluding houses’, which fell 16.5%, to the lowest level since January 2012.
Standalone house approvals also continued to decline, dropping 3.8% in April, following a 3.7% fall in March.
Across Australia, total dwelling approvals were mixed, with falls in Queensland (down 22.8%), Victoria (18.6%), and Western Australia (5.8%). At the same time, rises were recorded in South Australia (up 19.8%), New South Wales (12.5%), and Tasmania (3.5%).
The value of total residential building approvals fell 2.5% in April, comprising a 2.7% decrease in new residential building and a 1.2% fall in alterations and additions.
