Economic Indicators

Building Approvals

A breakdown of building work approved within Australia over the last month.

This note provides a breakdown of the building work that has been approved within Australia for the referenced month, with a particular focus on residential buildings. This data is an important leading indicator for future construction activity.

  • 01 Feb 2024 Building Approvals December 2023

    Dwelling approvals fell a seasonally adjusted 9.5% in December (mkt exp +0.5%), following a downwardly revised increase of 0.3% in November (originally 1.6%). The December drop was driven by a 25.3% plunge in multi-dwelling approvals, while private sector house approvals declined 0.5% following a 4.3% fall in November.

  • 09 Jan 2024 Building Approvals November 2023

    Dwelling approvals rose a seasonally adjusted 1.6% in November (exp -2.0%) following a revised 7.2% increase in September (originally 7.5%). The trend growth estimate, which looks through the monthly volatility, remained soft at 0.3%.

  • 30 Nov 2023 Building Approvals October 2023

    Dwelling approvals rebounded a seasonally adjusted 7.5% in October (exp +1.4%) following a revised 4.0% fall in September (originally -4.6%). The number of dwelling approvals remains low, and overall trend growth is soft.

  • 01 Nov 2023 Building Approvals September 2023

    Dwelling approvals declined a seasonally adjusted 4.6% in September, against market expectations for a 2.5% gain. The seasonally adjusted decline in September was broad-based. Private house approvals fell by 4.6%, while other private dwellings declined 5.1%. Looking through the temporary volatility, private sector house approvals appear to have turned the corner, with trend growth of 0.8%.

  • 03 Oct 2023 Building Approvals August 2023

    Dwelling approvals rose a seasonally adjusted 7.0% in August, exceeding the market expectations of a 2.5% increase. The increase was broad-based, with a relatively strong rise in dwellings other than houses. Western Australia was one of the states that saw a rise in approvals in August.

  • 30 Aug 2023 Building Approvals July 2023

    Dwelling approvals fell a seasonally adjusted 8.1% in July (exp. -0.5%), following a 7.9% fall in June, and are down 10.6% YoY.

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