Dwelling approvals fall in November in Australia
The number of dwellings approved fell 2.9 per cent in November 2016, in trend terms, and has fallen for six months, according to data released by the Australian Bureau of Statistics (ABS) today.
In November dwelling approvals decreased, in trend terms, in the Northern Territory (5.0 per cent), New South Wales (4.3 per cent), Queensland (3.9 per cent), the Australian Capital Territory (3.4 per cent), Victoria (2.5 per cent) and South Australia (1.1 per cent). Dwelling approvals increased, in trend terms, in Western Australia (1.9 per cent) and were flat in Tasmania.
In trend terms, approvals for private sector houses fell 0.4 per cent in November. Private sector house approvals fell in New South Wales (1.0 per cent), Victoria (0.6 per cent) and South Australia (0.4 per cent), but rose in Queensland (0.3 per cent) and Western Australia (0.3 per cent).
In seasonally adjusted terms, dwelling approvals increased by 7.0 per cent in November, driven by a rise in total dwellings excluding houses (17.3 per cent). Total house approvals fell 0.4 per cent.
The value of total building approved fell 2.6 per cent in November, in trend terms, and has fallen for four months. The value of residential building fell 2.8 per cent while non-residential building fell 2.3 per cent.