The ABS released the latest dwelling approvals to December 2017.
The number of dwellings approved fell 1.7 per cent in December 2017, in trend terms, and has fallen for three months.
Approvals for private sector houses have remained stable, with just under 10,000 houses approved in December 2017, but the fall was in apartments.
In trend terms, approvals for private sector houses fell 0.2 per cent in December. Private sector house approvals fell in South Australia (1.5 per cent), Western Australia (0.9 per cent) and New South Wales (0.2 per cent) but rose in Queensland (0.4 per cent). Private house approvals were flat in Victoria. But it is the trends in unit approvals which show the most significant variations.
NSW is leading the way down from a high in May 2016.
QLD continues to slow, from a peak in November 2015.
WA is moving up, just a little, from a low in May 2017.
VIC is bucking the trend, with a significant rise since May 2017, but we wonder for how long, as supply is already taking the heat out of new unit sales.
The value of total building approved fell 0.3 per cent in December, in trend terms, after rising for 11 months. The value of residential building fell 0.2 per cent while non-residential building fell 0.4 per cent.
