Approvals to build new houses jumped in February, according to data released this week by the Australian Bureau of Statistics (ABS).
However, the figures show that the total number of homes approved fell 1.9 per cent in February (seasonally adjusted), after a 2.5 per cent fall in January. The reason behind the overall result was a tumble of 24.9 per cent in approvals to build multi-unit housing, specifically large apartment projects.
Approvals for houses, on the other hand, rose 10.7 per cent in February. Around the country, house approvals rose in all states: Western Australia (20.7 per cent), New South Wales (17.0 per cent), Victoria (12.4 per cent), Queensland (3.4 per cent), and South Australia (2.0 per cent).
The total number of all dwelling approvals fell 28.5 per cent in Queensland, but this result was eclipsed by rises in Tasmania (39.3 per cent), New South Wales (23.4 percent), South Australia (15.4 percent), Victoria (2.1 per cent), and Western Australia (0.9 per cent).
The value of total residential building fell 16.8 per cent in February, comprising a 19.1 per cent decrease in the value of new residential building and a 0.1 per cent fall in alterations and additions.