Own an investment property? Discover your profitability score and grow your wealth faster. TAKE THE TEST

← Back

Approvals fluctuate

Building approvals continue to fluctuate, according to data released this week by the Australian Bureau of Statistics (ABS).

The latest seasonally adjusted figures show that the total number of dwellings approved fell 0.3% in April, after a 2.7% rise in March.

Approvals fell 1.6% for standalone houses, and 1.1% for multi-units.

Around the country, total dwelling approvals fell in Tasmania (down 16.1%), New South Wales (4.5%) and Western Australia (0.9%). Rises were recorded in South Australia (13.9%) and Queensland (5.0%), while figures remained unchanged in Victoria in April.

Meanwhile, approvals for private sector houses decreased in New South Wales (down 5.0%), Victoria (2.0%), Queensland (0.2%), and South Australia (0.1%), but rose in Western Australia (3.5%).

The value of total residential building fell 3.2%, comprising a 3.8% drop in new residential building and a 0.4% rise in alterations and additions.

About Adam Nobel

CEO | Principal
M. Bus, Grad Dip Adv, B.Int Bus, LREA

adam@hugoalexander.com.au

0417 007 001

Adam is the founder and Principal of Hugo Alexander Property Group. With a previous career in advertising, 22 years experience in property investment, and 16 years in Brisbane real estate, he knows the market inside out to ensure his clients grow their wealth faster.

Google Rating
5.0