Building Approvals Rise in November

The ABS released their Building Approvals data for November. Approvals for apartments rose significantly, whilst private sector housing fell.

The trend estimate for total dwellings approved rose 0.2% in November and has risen for six months. The seasonally adjusted estimate for total dwellings approved rose 7.5% in November and has risen for two months.

The trend estimate for private sector houses approved fell 0.3% in November and has fallen for eight months. The seasonally adjusted estimate for private sector houses fell 0.3% in November and has fallen for three months.

The trend estimate for private sector dwellings excluding houses rose 1.0% in November and has risen for six months. The seasonally adjusted estimate for private sector dwellings excluding houses rose 16.7% in November and has risen for two months.

The trend estimate of the value of total building approved fell 0.7% in November and has fallen for 12 months. The value of residential building fell 0.5% and has fallen for five months. The value of non-residential building fell 1.0% following a rise of 0.5% in the previous month. The seasonally adjusted estimate of the value of total building approved rose 19.6% in November and has risen for two months. The value of residential building rose 15.3% and has risen for two months. The value of non-residential building rose 29.7% following a fall of 13.1% in the previous month.

Author: Martin North

Martin North is the Principal of Digital Finance Analytics

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