ABS figures released today show that building approvals increased by 3.9 per cent in October, the second consecutive month of growth, said the Housing Industry Association.
During October, total seasonally-adjusted new dwelling approvals rose to 19,652, the strongest monthly result since the all-time record high reached in July. The distribution of the growth was mixed, however; while multi-unit approvals increased by 10.1 per cent during October, detached house approvals fell by 2.1 per cent during the month. The back-to-back increases in approvals during September and October were the first consecutive monthly increases since the beginning of the year.
During October 2015, total seasonally adjusted new home building approvals saw the largest increase in South Australia (+23.4 per cent), followed by New South Wales (+22.0 per cent) and Victoria (+21.2 per cent). Approvals fell in Tasmania (-41.6 per cent), Queensland (-28.7 per cent) and Western Australia (-1.1 per cent). In trend terms, approvals saw a 7.1 per cent increase in the NT but declined by 10.8 percent in the Australian Capital Territory.
