Dwelling Approvals Up In January: Australia

The total number of dwellings approved rose 6.3 per cent in January to 16,579, following a 1.7 per cent rise in December, according to seasonally adjusted data released today by the Australian Bureau of Statistics (ABS).

Daniel Rossi, ABS head of construction statistics, said: 'Approvals for private dwellings excluding houses, drove the overall rise, up 12.7 per cent, to the highest level since December 2022.'

'Private sector house approvals were also up 1.1 per cent.'

Private sector house approvals mixed across Australia

The 1.1 per cent rise in private sector houses (to 9,042 dwellings) is 8.9 per cent higher than January 2024. This follows a 2.8 per cent fall in December.

The results across the states were mixed, with the greatest rises in Queensland (4.6 per cent), Western Australia (3.3 per cent), and South Australia (2.9 per cent). Meanwhile, falls were seen in Victoria (-1.2 per cent) and New South Wales (-0.8 per cent).

Apartment approvals drive other private dwellings higher

A number of large apartment buildings approved in New South Wales have driven the upward movement over the past two months. Private sector dwellings excluding houses continued to rise, up 12.7 per cent (to 7,213 dwellings), following a 17.4 per cent rise in December. The overall result is 41.6 per cent higher than one year ago.

(a) Seasonally adjusted estimates are not published for NT and ACT for all dwelling types. Private sector houses are not published for Tasmania.

Non-residential building value falls, as residential value hits all-time high

The value of total building approved fell 6.9 per cent in January (to $14.73 billion), following an 8.9 per cent December rise.

The value of approved non-residential building fell 20.7 per cent (to $5.69 billion), after a 19.7 per cent December jump, in seasonally adjusted terms. This drove the overall fall in total building value in January. Despite the fall, the result is 11.3 per cent higher than January 2024 and follows the second highest ever value in this series in December.

Total residential building value rose 4.5 per cent (to $9.04 billion), to an all-time high in January, comprised of a 5.0 per cent gain in the value of new residential building approved (to $7.90 billion), and a 1.1 per cent rise in the value of alterations and additions (to $1.14 billion).