According to the latest ABS data, released today, during May 2015, total new dwelling approvals rose by 2.4 per cent to 19,414 in seasonally-adjusted terms, compared with 18,964 in April. An uplift in multi-unit approvals saw a 15.1 per cent rise during May although detached house approvals fell by 8.5 per cent. A total of 218,442 approvals were recorded in the year to May, which is a new record for approvals over any twelve-month period since records began in 1983.
There were significant state variations with seasonally-adjusted new dwelling approvals strongest increase in Victoria (+11.0 per cent), followed by New South Wales (+8.8 per cent) and Queensland (+3.6 per cent). A slight increase was also recorded in Western Australia (+0.2 per cent). New dwelling approvals fell significantly in Tasmania (-32.6 per cent) and in South Australia (-9.9 per cent).
