Building approvals took another fall in April, according to the latest ABS figures.
Total residential building approvals fell by 1.3% during the month, while the figure for the three months leading up to April reached -5.9%.
"Today's approval numbers are driven by a 3.5% fall in detached housing approvals and unfortunately constitute yet another soft update on the state of Australia's residential building industry," said HIA senior economist Andrew Harvey.
"April's detached housing approvals represent the weakest monthly result since March 2009 and provide more evidence that housebuilding levels are heading back towards the GFC-affected lows of financial year 2008/09."
The month’s good news story comes out of Queensland, where seasonally adjusted building approval numbers rose by 29.2% following a poor weather-affected start to the year.
South Australia saw the next biggest increase of 9.9%, while the biggest loser was New South Wales with a 12.9% fall.
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out