Dwelling approvals continue to fall in July: Australia

The number of dwellings approved fell 8.6 per cent in July (seasonally adjusted), declining for a fourth consecutive month to be 24.9 per cent lower than the peak recorded in March, 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 July was broad-based, with private sector houses falling 5.8 per cent and approvals in private sector dwellings excluding houses falling 12.3 per cent.

"Since the unwinding of stimulus measures and the return of lockdowns across parts of New South Wales and Victoria, approvals for private houses have fallen 24.4 per cent from the record high in April. Despite the fall, private house approvals remain at elevated levels and are 28.0 per cent higher than July 2020 and 36.0 per cent higher than July 2019," he said.

Across Australia, the number of dwelling approvals fell in South Australia (-17.9 per cent), Tasmania (-15.3 per cent), Western Australia (-11.3 per cent), Victoria (-11.0 per cent), and New South Wales (-9.9 per cent). Dwelling approvals rose in Queensland (9.0 per cent), in seasonally adjusted terms.

Approvals for private sector houses fell in South Australia (-23.9 per cent), Victoria (-7.3 per cent), Western Australia (-6.9 per cent) and New South Wales (-4.2 per cent). Private house approvals in Queensland rose 8.3 per cent, in seasonally adjusted terms.

The value of total building fell 15.9 per cent, in seasonally adjusted terms. The value of non-residential building approved fell 30.5 per cent, to be 47.0 per cent lower than the peak recorded in March.

The value of total residential building fell 6.6 per cent, comprising a 7.6 per cent fall in new residential building and a 0.1 per cent rise in residential alterations and additions.