Building approvals continue to seesaw, according to data released this week by the Australian Bureau of Statistics.
The latest figures show that approvals for multi-units surged 4.3 per cent in May, while houses fell by 8.6 per cent, seasonally adjusted. In the previous month, it was the reverse with approvals to build houses rising 0.1 per cent, yet multi-units fell 11.5 per cent.
The total number of dwellings approved fell 3.2 per cent in May, in seasonally adjusted terms.
Around the country, dwelling approvals in May fell in Queensland (down 4.2 per cent), Victoria (2.7 per cent), Tasmania (2.0 per cent) and Western Australia (0.8 per cent) in trend terms, but rose in South Australia (4.3 per cent), Northern Territory (2.8 per cent) and Australian Capital Territory (1.5 per cent). New South Wales reported no change.
The seasonally adjusted estimate of the value of residential building approved fell 0.3 per cent in May.