South Australia's residential construction sector continues to boom in response to the Malinauskas Government's comprehensive plan to address the housing crisis.
Latest data from the Australia Bureau of Statistics (ABS) shows in January our state's building approvals jumped 17 per cent, in seasonally adjusted terms, far outpacing the national growth rate of 6.3 per cent.
Through the year, building approvals in South Australia have increased by 66.8 per cent, far outpacing the national growth of 21.7 per cent.
Within this jump, there was an 86 per cent rise in the quarter for approvals of higher density housing.
The approval of semi-detached/duplex houses, apartments, units and flats in South Australia is now 343 per cent higher than it was a year ago.
While the approval of high to medium density housing projects can make the overall figures volatile month to month, there is significantly less volatility in the approvals of private sector houses.
In January, the number of private sector houses approved jumped 2.9 per cent to be 29 per cent higher than the year prior, continuing to trend in the right direction.
Recent preliminary construction work data for the December quarter of last year showed that in the quarter, there was a record $1.4 billion in residential building work done, reflecting growth of 13.2 per cent through the year (in real terms).
As put by Stephen Mullighan
Strong building approvals and construction data is positive news for South Australia and shows we're getting on with the job of addressing the state's housing crisis.
This boost to residential construction follows significant housing reform by the Malinauskas Government, including the scrapping of stamp duty payable by first home buyers purchasing a new home.
We're committed to making housing accessible to all. These figures show that our efforts are working.
As put by Nick Champion
This data is further proof the Malinauskas Labor Government is on the right path to addressing the housing crisis.
Our Housing Roadmap initiatives are making South Australia's nation leading planning system even more efficient and transparent which is helping get approvals faster and homes on the market sooner.
By making more land available for housing and increasing supply in the market, we are providing certainty and a steady pipeline of work to help the industry deliver more homes, faster.
As put by Will Frogley, CEO Master Builders Association SA
The ABS figures confirm South Australia's building industry has been the most resilient in the nation.
Not only are approvals well up on this time last year, but our insolvency rate is by far the lowest in Australia.
Housing demand is strong. It's crucial that the massive government investment in unlocking land supply is matched by a daily sense of urgency to deliver it.
