Dwelling approvals up
Dwelling approvals are on the rise after three consecutive months of decline.
According to the latest data from the Australian Bureau of Statistics (ABS), total dwelling approvals, which includes first home buyers building new homes, rose 9.7 per cent in NSW, 12.1 per cent in Victoria, 8.3 per cent in South Australia and 4.4 per cent in Tasmania.
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But the news wasn’t all bright, Queensland recorded an 18.3 per cent drop in the total number of dwellings approved, while approvals fell by 4.9 per cent in Western Australia.
Private sector houses approved fell 0.1 per cent due to falls in New South Wales and Western Australia.
The value of total building approved fell 1.3 per cent in July in seasonally adjusted terms. The value of total residential building rose by 6.6 per cent while non-residential building fell by 15.8 per cent.
