Dwelling Approvals Down 1.9 % For May 2017

Dwelling Approvals Down 1.9 % For May 2017

Australian Bureau Of Statistics

Dwelling Approvals Fall 1.9 % In May 2017

Victor P Taffa

Number of dwellings approved fell 1.9 % in May 2017, in trend terms, and has fallen for 3 months, according to data released by the Australian Bureau of Statistics (ABS) today.

“Dwelling approvals continue to weaken in trend terms, falling by around 700 dwellings over the past three months.” Daniel Rossi, ABS Director of Construction Statistics said.

“May 2017 data showed that the number of dwellings approved is now 18 % below the peak in May 2016.”

In trend terms dwelling approvals decreased in:

  • Australian Capital Territory (8.2 %),
  • Victoria (3.9 %),
  • Western Australia (3.7 %),
  • New South Wales (2.6 %).

In trend terms dwelling approvals increased in

  • Queensland (2.2 %),
  • Northern Territory (2.1 %),
  • South Australia (1.6 %),
  • Tasmania (1.5 %).

In trend terms, approvals for private sector houses were flat in May. Private sector house approvals rose in:

  • South Australia (1.0 %),
  • New South Wales (0.4 %),
  • Victoria (0.2 %).

Private sector house approvals fell in:

  • Queensland (0.9 %),
  • Western Australia (0.6 %).

In seasonally adjusted terms, dwelling approvals decreased by 5.6 % in May, driven by a fall in total dwellings excluding houses (12.6 %), while total house approvals rose 0.4 %.

Value of total building approved rose 0.8 % in May, in trend terms, and has risen for 5 months. The value of non-residential building rose 4.6 % while residential building fell 1.5 %.