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.

  • 30 May 2024 Building Approvals April 2024

    Dwelling approvals declined a seasonally adjusted 0.3% in April, against market expectations of a 1.8% gain. This followed an upwardly revised 2.7% increase in March (originally 1.9%).

  • 02 May 2024 Building Approvals March 2024

    Dwelling approvals rose a seasonally adjusted 1.9% in March (exp.: 3.4%), following a 0.9% decline in February (revised from -1.9%), but were down 2.5% YoY.

  • 04 Apr 2024 Building Approvals February 2024

    Dwelling approvals declined a seasonally adjusted 1.9% in February, against market expectations for a 3.0% gain. The 2.5% decline in January was stronger than the initially-estimated 1.0% fall.

  • 05 Mar 2024 Building Approvals January 2024

    Dwelling approvals declined a seasonally adjusted 1.0% in January, against the market expectations of a 4.0% increase.

  • 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%.

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