Building approvals down 1% in January: ABS
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The news: The total number of buildings approved fell 1% in January, compared to a 10.1% slide in December, as private sector houses took a further hit, latest Australian Bureau of Statistics figures show.
The numbers: Total building approvals fell 1% to 12,850, with declines in New South Wales (-14.9%), Victoria (-9.8%), and South Australia (-7.2%). Meanwhile, rises were recorded in Queensland (31.8%), Western Australia (11.4%), and Tasmania (5.1%).
Approvals for private houses fell 9.9% to 7,461 in January, with declines in all states: Victoria (-16.7%), New South Wales (-13.1%), Western Australia (-7.3%), Queensland (-1.7%), and South Australia (-0.4%).
However, approvals for private sector dwellings excluding houses rose 19.5% to 5,238.
The value of total building approved rose 14.7%, following a 6.7% drop in December. The value of total residential buildings rose 16.1% as it comprised of a 19.4% increase in the value of new residential building and a 3.1% fall in alterations and additions.
The value of non-residential building rose 12.4%, after a 10.8% fall in December.
The context: Private sector house approvals have now fallen for four consecutive months, while the double-digit rise in approvals for private sector buildings excluding houses was driven by a rise in apartment approvals in Queensland.
The source: ABS release
