Building Approvals Flat In September – ABS

ABS Building Approvals show that the number of dwellings approved were flat in September 2014, in trend terms, holding steady for the last two months. Approvals of house dwellings has been declining slowly in trend terms for the last 6 months. The seasonally adjusted estimate for total dwellings approved fell 11.0% in September after rising for two months.

Dwelling approvals increased in September in the Australian Capital Territory (4.0 per cent), South Australia (1.3 per cent), Western Australia (0.9 per cent) and Queensland (0.7 per cent), but decreased in Tasmania (5.1 per cent), the Northern Territory (1.7 per cent), New South Wales (1.0 per cent) and Victoria (0.6 per cent) in trend terms.

In trend terms, approvals for private sector houses fell 0.2 per cent in September. Private sector house approvals fell in Victoria (1.8 per cent), South Australia (0.7 per cent) and Western Australia (0.3 per cent), but rose in Queensland (1.7 per cent) and New South Wales (0.9 per cent). The seasonally adjusted estimate for private sector houses fell 2.3% in September and has fallen for two months.

The value of total building approved rose 0.1 per cent in September, in trend terms, following a fall of 0.2 per cent in the previous month. The value of residential building fell 0.6 per cent and the value of non-residential building rose 1.4 per cent in trend terms. The seasonally adjusted estimate of the value of total building approved fell 9.5% in September following a rise of 1.9% in the previous month. The value of residential building fell 16.1% following a rise of 5.5% in the previous month. The value of non-residential building rose 5.3% after falling for two months.

BuildingApprovalsSept2014

Author: Martin North

Martin North is the Principal of Digital Finance Analytics

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