Approvals to build new apartments continue to flag, according to data released this week by the Australian Bureau of Statistics.
The latest figures show that the total number of homes approved fell 27.6% in January (seasonally adjusted) after a 15.3% increase in December.
Approvals for private sector houses fell by 13.8% in a fifth consecutive drop, to be the lowest result recorded since June 2012.
The more volatile multi-unit series fell 40.8%, following a 41.9% rise in December.
Across Australia, the total number of approvals decreased in New South Wales (down 49.0%), Victoria (38.6%), Tasmania (31.7%), Western Australia (7.9%), and South Australia (6.5%). Only Queensland recorded an increase, of 25.6%, driven by apartment developments approved in January.
Approvals for private sector houses fell in all states: Western Australia (down 18.7%), New South Wales (17.3%), Queensland (16.6%), Victoria (9.9%) and South Australia (2.8%).
The value of total residential building approvals fell 13.6%, comprising a 15.1% decrease in new residential building and a 4.0% fall in alterations and additions.
