Dwelling approvals rise in July

The number of dwellings approved rose 12.0 per cent in July, in seasonally adjusted terms, according to data released by the Australian Bureau of Statistics (ABS) today.

“The rise was driven by private sector dwellings excluding houses, which increased by 22.7 per cent in July, after falling to an eight-year low in June,” said Daniel Rossi, Director of Construction Statistics at the ABS. “Meanwhile, private sector houses rose by 8.5 per cent, which was the strongest monthly increase since January 2014.”

“The July results likely reflect improved consumer sentiment in May, on the back of falling COVID-19 cases and easing of restrictions.”

Across the states and territories, dwelling approvals rose in Tasmania (50.0 per cent), New South Wales (32.0 per cent), Victoria (9.3 per cent) and Queensland (7.7 per cent). South Australia (10.5 per cent) and Western Australia (8.3 per cent) recorded decreases in seasonally adjusted terms.

Approvals for private sector houses rose in Queensland (15.6 per cent), New South Wales (14.3 per cent) and Victoria (6.1 per cent). Decreases were recorded in Western Australia (3.0 per cent) and South Australia (1.8 per cent).

The value of total building approved fell 3.9 per cent in July, in seasonally adjusted terms. The value of non-residential building fell 19.8 per cent to its lowest level since January 2018, after rising 20.7 per cent in June. Meanwhile residential building rose 9.5 per cent in July.

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