Dwelling Approvals Up 0.7 % For October 2017

Dwelling Approvals Up 0.7 % For October 2017

Australian Bureau Of Statistics

Dwelling Approvals Rise 0.7 % In October

Victor P Taffa

Number of dwellings approved rose 0.7 % in October 2017, in trend terms, and has risen for 9 months, according to data released by the Australian Bureau of Statistics (ABS) today.

“Dwelling approvals have continued to strengthen in recent months, rising above 19,000 dwellings in October 2017.” Director of Construction Statistics at the ABS Justin Lokhorst said.

“This is the first time the series has reached this level since August 2016.”

Dwelling approvals increased in

  • Tasmania (4.1 %),
  • Victoria (3.8 %),
  • South Australia (0.6 %),
  • Western Australia (0.3 %),
  • Northern Territory (0.3 %).

Dwelling approvals decreased in

  • Australian Capital Territory (5.3 %),
  • Queensland (1.7 %),
  • New South Wales (0.3 %).

In trend terms, approvals for private sector houses rose 0.6 % in October.

Private sector house approvals rose in

  • Queensland (1.4 %),
  • Victoria (1.2 %),
  • South Australia (1.0 %).

Private sector house approvals fell in

  • Western Australia (1.0 %),
  • New South Wales (0.7 %).

In seasonally adjusted terms, dwelling approvals increased by 0.9 % in October, driven by a rise in private house approvals (1.5 %), while private dwellings excluding houses fell 1.0 %.

Value of total building approved rose 0.5 % in October, in trend terms, and has risen for 10 months. The value of residential building rose 0.8 % while non-residential building was flat.