Australian Dwelling Approvals Continue to Decline,

Australia, Police

Article: The Australian Bureau of Statistics (ABS) has released data showing a further decline in dwelling approvals in January.

According to the report, the total number of dwellings approved fell by 1.

December.

These figures indicate ongoing challenges in the housing market and the construction industry.

ABS head of construction statistics, Daniel Rossi, noted that approvals for private houses experienced a significant decline of 9.

January.

In fact, private sector houses have shown a downward trend for four consecutive months.

However, there was a silver lining as approvals for private sector dwellings excluding houses rose by 19.

Queensland.

The decline in dwelling approvals was observed across several states, with New South Wales experiencing a significant drop of 14.

Victoria (-9.

South Australia (-7.

On the other hand, Queensland saw a notable increase of 31.

Western Australia (11.

Tasmania (5.

It is worth mentioning that the value of total building approved rose by 14.

The value of total residential building rose by 16.

However, there was a slight fall of 3.

Additionally, the value of non-residential building experienced a significant increase of 12.

December.

These statistics provide valuable insights into the current state of the Australian housing market and the challenges faced by the construction industry.

As the decline in dwelling approvals continues, it is important for policymakers and industry stakeholders to closely monitor these trends and consider appropriate measures to support the sector’s recovery.

Further information on this topic can be found in the “Building Approvals, Australia” report released by the ABS.

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