Dwelling approvals decrease in March

The total number of dwellings approved fell 18.5 per cent in seasonally adjusted terms in March, following a 42.0 per cent rise in February, according to data released today by the Australian Bureau of Statistics (ABS).

Daniel Rossi, ABS Director of Construction Statistics, said: “The fall in the total number of dwellings approved in March was driven by approvals for private sector dwellings excluding houses, which fell 29.9 per cent.”

“Approvals for private sector houses also decreased, falling 3.0 per cent in March, following a 14.6 per cent rise in February.”

Across Australia, the number of dwelling approvals fell in Victoria (-34.6 per cent), Tasmania (-27.3 per cent), New South Wales (-23.9 per cent), and South Australia (-23.5 per cent), in seasonally adjusted terms. Dwelling approvals increased in Queensland (12.4 per cent) and Western Australia (5.1 per cent).

Approvals for private sector houses rose in Queensland (5.8 per cent) and Western Australia (0.3 per cent) but fell in all other mainland states: New South Wales (-7.5 per cent), Victoria (-5.0 per cent), and South Australia (-2.2 per cent), in seasonally adjusted terms.

The value of total building approved fell 10.8 per cent in March, in seasonally adjusted terms. The value of total residential building decreased (-18.3 per cent), following a 37.7 per cent rise in February. The fall in total residential building value was driven by 20.7 per cent decrease in new residential building, while the result in alterations and additions was flat.

The value of non-residential building fell 0.8 per cent, after a sharp 130.1 per cent February increase. The March result was driven by a large number of public developments, with 11 projects valued over $30m approved, including four greater than $100m.

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