Private house approvals decline in September

The seasonally adjusted number of dwellings approved fell 4.3 per cent in September, following a 7.6 per cent rise in August, according to data released today by the Australian Bureau of Statistics (ABS).

Daniel Rossi, ABS Director of Construction Statistics, said: “The decline in the total number of dwellings approved in September was driven by a large fall in approvals for private sector houses, which fell 16.0 per cent. Private sector dwellings excluding houses rose, by 18.1 per cent. 

“The decline in private house approvals over recent months can be largely attributed to the end of federal and state stimulus measures. Despite the fall in September, the series remains 18.2 per cent higher than the pre-pandemic level in September 2019.” Mr Rossi said.

Across Australia, the number of dwelling approvals fell in South Australia (-22.7 per cent), Queensland (-21.5 per cent), Western Australia (-20.9 per cent), Victoria (-15.7 per cent) and Tasmania (-11.8 per cent), in seasonally adjusted terms. New South Wales rose (27.2 per cent), driven by a rise in apartment developments approved in September.

Approvals for private sector houses fell in all mainland states: South Australia (-26.8 per cent), Victoria (-18.0 per cent), Queensland (-16.0 per cent), New South Wales (-13.9 per cent), and Western Australia (-12.2 per cent), in seasonally adjusted terms.

The value of total building approved fell 11.2 per cent in September, in seasonally adjusted terms. The value of non-residential building fell 11.3 per cent, having risen 43.5 per cent in August.

The value of total residential building fell 11.1 per cent, comprising a 9.6 per cent decrease in new residential building, and a 20.0 per cent fall in alterations and additions after the series reached its second-highest level in August.

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About Warwick Petschack

Warwick has over 25 years of property investment and management experience. Principally responsible as Managing Director for Capital Management Australia and Joint Managing Director for Chauvel Capital Partners and Editor of Australian Property Markets News.

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