Private sector house approvals rose for the fifth consecutive month in November and, seasonally adjusted, were at the highest recorded level since December 1999, according to data released by the Australian Bureau of Statistics (ABS) today.
Daniel Rossi, Director of Construction Statistics at the ABS, said: “Approvals for private houses have surged 40 per cent since June. Federal and state housing stimulus measures and low interest rates have resulted in strong demand for detached dwellings.
“Approvals for private houses rose 6.1 per cent in November, while dwellings excluding houses remain at subdued levels, falling 3.9 per cent,” he said.
The total number of dwellings approved rose 2.6 per cent in November, in seasonally adjusted terms.
The rise in total dwellings was led by South Australia (18.8 per cent), followed by Queensland (6.5 per cent) and New South Wales (1.5 per cent). Falls were recorded in Western Australia (5.4 per cent), Victoria (4.6 per cent) and Tasmania (0.4 per cent).
Approvals for private sector houses rose in all states in November; Queensland (17.0 per cent), Western Australia (7.5 per cent), South Australia (2.8 per cent), Victoria (1.5 per cent) and New South Wales (0.7 per cent).
The value of total building approved fell 8.4 per cent in November, in seasonally adjusted terms. The value of non-residential building drove the decrease, falling 27.4 per cent after a strong October result (the highest since August 2019).
The value of total residential building increased 5.7 per cent, comprising a 5.7 per cent rise in new residential building, and a 5.6 per cent increase in alterations and additions. The value of residential alterations and additions reached an all-time high in November.
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