Dwelling approvals fall 5% in April

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Dwelling approvals across Australia dipped in April from March, according to the latest figures by the Australian Bureau of Statistics (ABS).

Figures showed the rate dropped 5% on a seasonal basis to 18,701. However, this is still 1.9% higher than April 2017. The statistics body said the drop was driven by an 11.5% decrease in private sector dwellings excluding houses, which largely reflect apartments.

"The total dwellings series has been relatively stable for the past eight months, with around 19,000 dwellings approved per month," said Justin Lokhorst, Director of Construction Statistics at the ABS. "The strength in approvals for houses is being offset by weakness in semi-detached and attached dwelling approvals."

Among the states and territories, dwelling approvals fell most in Tasmania (3.7%), Victoria (2.3%) and Western Australia (2.2%) in trend terms. The same rate rose in trend terms in the Australian Capital Territory (14.8%), the Northern Territory (6.7%), South Australia (1.7%), New South Wales (0.9%) and Queensland (0.7%).

 

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