Building approvals have risen by more than one quarter in the past year, according to data released this week by the Australian Bureau of Statistics.
The seasonally adjusted figures show that the total number of dwellings approved rose 9.1 per cent in April following a fall of 5.5 per cent in the previous month. This result is effectively a rise of 27.3 per cent on the number approved in April 2012.
Apartment building was the winner in April, with the number of approvals for ‘private sector dwellings excluding houses’ rising 18.0 per cent in April following a fall of 9.9 per cent in the previous month.
House approvals are growing more steadily, with the number for private sector houses lifting by 2.5 per cent in April, after rising consistently for four months.
The value of total residential building rose 3.8 per cent following a fall of 6.4 per cent in the previous month.
Around the states, the number of building approvals increased by 33.3 per cent in New South Wales, an encouraging result driven by growth in both detached houses and ‘other dwellings’.
Approvals also increased in April in Victoria (up 9.3 per cent), South Australia (8.0 per cent), Western Australia (4.3 per cent) and Tasmania (36.5 per cent) but fell by 10.9 per cent in Queensland. In trend terms building approvals increased by 8.6 per cent in the Northern Territory in April, but declined by 2.1 per cent in the ACT.