Australian Bureau of Statistics (ABS) Building Approvals show that the number of dwellings approved rose 1.8 per cent in March 2015, in trend terms, and has risen for ten months. This continued strength was driven by increases in new flats, units or apartments in residential buildings.
The value of total building approved rose 0.9 per cent in March, in trend terms, and has risen for nine months. The value of residential building rose 2.5 per cent while non-residential building fell 2.8 per cent in trend terms.
The number of dwelling approvals increased in March in New South Wales (4.4 per cent), Tasmania (3.3 per cent), Queensland (3.0 per cent) and Victoria (1.2 per cent) but decreased in Northern Territory (14.6 per cent), Australian Capital Territory (3.8 per cent), Western Australia (1.9 per cent) and South Australia (1.7 per cent) in trend terms.
There are significant state variations with regards to the proportion of approvals relating to houses, lowest in the Sydney region.
In trend terms, approvals for private sector houses rose 0.2 per cent in March. Private sector houses rose in New South Wales (1.8 per cent) and Victoria (1.1 per cent) but fell in South Australia (1.3 per cent), Western Australia (1.3 per cent) and Queensland (0.9 per cent).
The trend value of residential building rose 2.5% and has risen for 12 months. The value of non-residential building fell 2.8% and has fallen for four months. The 6 month average value moments highlights the state variations, with NSW hot, and WA coming off.
