The total number of dwellings approved rose 7.5 per cent in October, in seasonally adjusted terms, following a 4.0 per cent decrease in September, according to data released today by the Australian Bureau of Statistics (ABS).
Daniel Rossi, ABS head of construction statistics, said: "Approvals for private sector dwellings excluding houses increased 19.5 per cent, following a 3.4 per cent fall in September."
"Approvals for private sector houses rose 2.2 per cent, following a 4.7 per cent September decrease."
"Despite the monthly increase, total dwellings approved have been low this financial year. In original terms, 55,029 dwellings were approved between July and October in 2023, compared with 65,599 over the same period in 2022."
Total dwelling approvals were driven by increases in Western Australia (+11.0 per cent), Queensland (+10.7 per cent), and New South Wales (+9.6 per cent). Falls were recorded in Tasmania (-14.4 per cent), South Australia (-7.2 per cent), and Victoria (-1.4 per cent).
Approvals for private sector houses rose in Western Australia (+11.7 per cent), Victoria (+6.5 per cent), and South Australia (+0.8 per cent). New South Wales (-4.9 per cent) and Queensland (-3.4 per cent) dropped in October.
The value of total building approvals rose 6.7 per cent, following a 5.3 per cent fall in September. The value of total residential building rose 7.0 per cent, made up of an 8.9 per cent increase in new residential building and a 3.2 per cent decrease in alterations and additions.
The value of non-residential building approved rose 6.2 per cent, following a 7.6 per cent September fall.
