NSW building approvals up: ABS

NSW has recorded a 5.4% rise in building approvals on a seasonally adjusted basis in July, helping the nation limp to a 1% increase, according to ABS figures released today.

The 5.4% increase follows a 3.8% increase in June, but comes after two big drops in May (12%) and April (15%).

Victoria suffered the biggest drop of the eastern seaboard states, down 3.1% in July, following a 6.6% gain in June.

Tasmania suffered a 26% drop in building approvals in July

The 1% increase to 12,227 dwellings nationally was the result of an uptick in public sector approvals, which increased by 77% from 256 units to 454 units. Private sector approvals were down 0.7% during July and have fallen for three consecutive months.

Queensland suffered a 14.5% decrease in private sector housing approvals – the biggest fall across all states – and the fourth straight month that housing approvals have fallen as new home builders awaited the start of the state government’s $10,000 building boost, which kicked off on August 1.

  • The seasonally adjusted estimate for private sector houses fell 0.2% in July 2011 to 7,600 houses following a fall of 3.3% in the previous month.
  • The seasonally adjusted estimate for private sector dwellings excluding houses approved fell 1.4% to 4,173 dwellings following a fall of 4.5% last month.
  • The seasonally adjusted estimate of the value of total building approved fell 4.4% in July following a fall of 1.4% last month.
  • The seasonally adjusted estimate for the value of total residential building fell 1.2% and the value of non-residential building fell 9.7%.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

Comments

Be the first one to comment on this article
What would you like to say about this project?