Private Sector Building Approvals Down 18.8% May 2010

Private Sector Building Approvals Down 18.8% May 2010

Australian Bureau Of Statistics (ABS)

Dwelling Approvals Continue To Fall In May

Victor P Taffa

ABS Building Approvals show that the total number of dwellings approved fell in May 2010 and has fallen for two months in seasonally adjusted terms. This month’s fall was due to an 18.8% Decrease in Private Sector Dwellings approved.

 

 

According to the ABS, New South Wales (-9.8%), Victoria (-3.0%), Queensland (-8.6%), Western Australia (-13.9%) and Tasmania (-24.8%) recorded less dwelling approvals this month, while South Australia recorded 30.6% more dwelling approvals.

Private sector houses approved rose 1.7% due to a large increase in Victoria (14.5%). Whereas New South Wales (-1.2%), Queensland (-8.2%), South Australia (-0.3%) and Western Australia (-3.6%) fell.

The value of total building approved rose 2.7% in May in seasonally adjusted terms. The value of total residential rose by 0.1% and non-residential rose by 9.1%.

 

MAY KEY FIGURES

May 10

Apr 10 to May 10

May 09 to May 10

no.

% change

% change


TREND
Total dwelling units approved

14, 270

-2.0

26.8

Private sector houses

8, 994

-1.7

10.0

Private sector other dwellings

3, 997

0.3

54.4

SEASONALLY ADJUSTED
Total dwelling units approved

13, 412

-6.6

26.6

Private sector houses

8, 835

1.7

9.2

Private sector other dwellings

3, 643

-18.8

86.1


 

 

MAY KEY POINTS

TOTAL DWELLING UNITS

  • The trend estimate for total dwellings approved fell 2.0% in May 2010 and is now showing falls for four months.
  • The seasonally adjusted estimate for total dwellings approved fell 6.6% and has fallen for two months.

PRIVATE SECTOR HOUSES

  • The trend estimate for private sector houses approved fell 1.7% in May and has fallen for five months.
  • The seasonally adjusted estimate for private sector houses approved rose 1.7% following a fall last month.

PRIVATE SECTOR OTHER DWELLING UNITS

  • The trend estimate for private sector other dwellings approved rose 0.3% in May and has risen for eleven months.
  • The seasonally adjusted estimate for private sector other dwellings approved fell 18.8% following rises for two months.

VALUE OF BUILDING APPROVED

  • The trend estimate for the value of total building approved fell 1.9% in May and has fallen for four months. The trend estimates for the value of building approved should be interpreted with caution. See the data notes on page 2 of this publication.
  • The seasonally adjusted estimate for the value of total building approved rose 2.7% in May. The seasonally adjusted estimate for the value of new residential building fell 0.6% while the value of residential alterations and additions rose 4.5%. The seasonally adjusted estimate for the value of non-residential building rose 9.1%.

Revisions to the total number of dwelling units approved in this issue are:

2008-09

2009-10

TOTAL


NSW

107

107

Vic.

99

648

747

Qld

42

42

SA

WA

206

206

Tas.

-1

-1

NT

ACT

21

21

Total

120

1, 002

1, 122


Significant revisions to the number of dwellings approved are the result of the inclusion of previously unreported data.

 

DATA NOTES

The trend estimates should be interpreted with caution as the underlying behaviour of building approvals may be affected by initiatives within the Government stimulus package, which included the “Building the Education Revolution” (BER) program and the Social Housing Initiative as well as other developments associated with global economic conditions. From June 2009 to February 2010 BER impacts were quantified and removed from the trend estimates because of its short term nature. From March 2010 these impacts are no longer removed from the trend estimates as their effect has significantly declined. For more details on trend estimates, please see paragraphs 20 to 23 of the explanatory notes.

Seasonally adjusted and trend estimates have been revised in this issue as a result of the annual reanalysis of seasonal factors. Non-residential value time series at the state level are highly volatile. Nevertheless they contain seasonal variation and continue to be seasonally adjusted.