The ABS released their Building Approvals data for November. Approvals for apartments rose significantly, whilst private sector housing fell.
The trend estimate for total dwellings approved rose 0.2% in November and has risen for six months. The seasonally adjusted estimate for total dwellings approved rose 7.5% in November and has risen for two months.
The trend estimate for private sector houses approved fell 0.3% in November and has fallen for eight months. The seasonally adjusted estimate for private sector houses fell 0.3% in November and has fallen for three months.
The trend estimate for private sector dwellings excluding houses rose 1.0% in November and has risen for six months. The seasonally adjusted estimate for private sector dwellings excluding houses rose 16.7% in November and has risen for two months.
The trend estimate of the value of total building approved fell 0.7% in November and has fallen for 12 months. The value of residential building fell 0.5% and has fallen for five months. The value of non-residential building fell 1.0% following a rise of 0.5% in the previous month. The seasonally adjusted estimate of the value of total building approved rose 19.6% in November and has risen for two months. The value of residential building rose 15.3% and has risen for two months. The value of non-residential building rose 29.7% following a fall of 13.1% in the previous month.
