Approvals to build apartments jumped by one-fourth in December, according to data released this week by the Australian Bureau of Statistics (ABS).
The figures show that the total number of dwellings approved rose 8.2% in seasonally adjusted terms in December, following a 2.6% rise in November.
The change was driven by an increase in approvals for ‘dwellings excluding houses’ (apartments and multi-unit dwellings), which rose 27.5%.
Approvals to build standalone houses, however, remained subdued, falling 1.8% in December, following a 1.6% decline in November.
Building approvals in this sector have fallen 31.5% since the April 2021 peak. While approvals for private houses have fallen from all-time highs, they remain at historically elevated levels, with the December result 20.5% higher than the pre-pandemic level in December 2019.
Across Australia, the number of dwelling approvals rose in New South Wales (up 32.1%) driven by dwellings excluding houses and Victoria (2.5%). Approvals fell in Queensland (down 14.8%), Western Australia (7.7%), Tasmania (7.4%), and South Australia (0.3%), in seasonally adjusted terms.
The value of total residential building rose 7.8%, comprising an 8.3% increase in the value of new residential building, and a 5.2% rise in the value of alterations and additions.
