Australian Total Dwelling Approvals Fall Further in August

MT Newswires Live
Yesterday

Australian total dwelling approvals fell 6.1% to 16,953 in August in seasonally adjusted terms after decreasing 1.9% in July, according to a report from the Australian Bureau of Statistics released on Wednesday.

The total dwelling units approved saw a 10.3% increase compared with last year.

Private sector houses rose 3.7% to 10,885 after falling 1.9% in July, while private sector dwellings, excluding houses, fell 21.2% to 5,674, after a 0.8% July rise.

The value of total residential building fell 0.6% in August to AU$11.3 billion, while the value of total non-residential building fell 44.8% to AU$5.53 billion.

Approvals for total dwellings were mixed across states, with Queensland falling by 22.5%, New South Wales by 17.3%, and Tasmania by 1.5%.

In contrast, South Australia saw an increase of 24%, Victoria by 8.9%, and Western Australia by 3.2%, per the report.

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