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Building approvals fall again

Approvals to build new homes continue to fluctuate, according to data released this week by the Australian Bureau of Statistics (ABS).

The latest figures show that the total number of homes approved fell 4.6% in September, in seasonally adjusted terms, following an 8.1% rise in August.

Approvals to build multi-unit dwellings fell by 5.1%, following a 10.1% rise in August, while approvals for standalone houses dropped 4.6%, following a 7.2% bounce.

Nationally, approvals were driven down by falls in Western Australia (down 11.0%), New South Wales (10.5%), and Victoria (8.9%). Rises were recorded in Queensland (up 34.6%), Tasmania (18.3%), and South Australia (5.1%).

Approvals for standalone houses fell in Western Australia (12.7%), Victoria (9.0%), and South Australia (2.6%). Rises in New South Wales (up 1.1%) and Queensland (0.7%), however, were not enough to offset the overall decrease.

The value of total residential building approvals fell 2.9% in August, comprising a 3.6% fall in new residential building and a 0.7% increase in alterations and additions.

About Adam Nobel

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


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.

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