Seasonally adjusted data released today by the Australian Bureau of Statistics shows total dwelling approvals rose 29.7 per cent to 19,022 in February, driven by an increase in private dwellings excluding houses, which rose 101.2 per cent to 8,922.
In original terms, apartment approvals increased 191.2 per cent to 5,398 dwellings, 29.8 per cent higher than this time last year.
Property Council Group Executive Policy and Advocacy Matthew Kandelaars said the National Housing Accord target has focussed state governments on improving planning systems but warned that tougher structural reform and post-permit improvements are the next critical step.
"While today's data is welcomed, approvals do not equal completions. Australia is already behind on delivery under the National Housing Accord, and the real test is whether these projects can move through construction and onto the ground."
Mr Kandelaars said recent volatility in apartment approvals highlighted the importance of stable investment conditions, particularly for higher-density housing that delivers supply at scale.
"Monthly swings underline how sensitive apartment projects are to cost pressures, uncertainty and delays," he said.
"In the current environment, with fuel price shocks, renewed construction cost escalation and global instability, stable investment settings matter more than ever."
He said closing the delivery gap would require greater focus beyond initial planning approval.
"Keeping approvals healthy and growing is essential, but it won't be enough on its own," Mr Kandelaars said.
"We need to focus on enabling infrastructure, streamlined post-permit approvals and better coordination with utilities so projects can move from approval to site."
"Sustained approvals and settings that make more projects feasible are critical if we are to lift completions and close the gap."
