This article is from the Australian Property Journal archive
DWELLING approvals across Australia fell by 3.6% in November with Queensland the only state to record growth in private sector houses.
Approvals totalled 14,998, according to the latest seasonally adjusted figures from the Australian Bureau of Statistics (ABS), this follows a 5.2% rise in October, highlighting the ongoing volatility in the construction sector.
Daniel Rossi, the ABS head of construction statistics said approvals for private sector houses fell 1.7%, while private dwellings excluding houses dropped 10.8%.
However, Rossi pointed to a silver lining.
“Despite the fall, approvals for total dwellings remain 3.2% higher than in November 2023.”
Approvals for private sector houses fell to 9,028 in November, marking a 1.7% decline that builds on October’s 4% drop. Nevertheless, approvals for this segment remain 3.8% higher year-on-year.
Queensland stood out as the only state to record growth in private house approvals, achieving a 4.3% increase. Other states experienced declines, reflecting uneven demand dynamics across the country.
The category of private dwellings excluding houses—which includes apartments and townhouses—plummeted by 10.8% in November to 5,285 dwellings. This figure is 6.4% lower than November 2023, with the sharpest declines seen in New South Wales and Victoria.
The dip comes after a surge in October, suggesting developers may have front-loaded approvals in the previous month.
While residential approvals faltered, the value of non-residential building approvals surged by 18.4% in November to $5.96 billion. This follows an 11.2% decline in October, underscoring the unpredictable nature of this segment.
Overall, the value of total building approvals rose by 6.6% to $14.32 billion, driven by the strength of non-residential projects. However, residential building values fell slightly, down 0.5% to $8.36 billion. Within this category, new residential building values declined by 0.6%, while alterations and additions recorded a modest 0.3% increase.
