building approvals

The ABS has revealed declines across dwelling approvals and the value of new residential building in April.

The number of dwellings approved ticked up for the month, however, economists still note that approvals are sitting at low levels.

After a weaker July result, the latest ABS data has revealed that dwelling approvals rose rapidly in August.

The number of dwellings approved has seen a month-on-month recovery, the latest ABS stats have shown.

Dwelling approvals declined 7.7 per cent in June after a strong May result, the latest ABS data has revealed.

New building approvals fell by 27.6 per cent in January, the lowest monthly level seen since July 2012, with houses recording their fifth consecutive monthly drop.

The ABS has released its latest building approvals data, revealing a decline in approvals in March following a rise in February.

Despite a microscopic rise in building activity in November, an economist has warned it could take “until the back half of the decade” to see a meaningful improvement.

The latest Australian Bureau of Statistics (ABS) data has reported a decline in the number of dwelling approvals across the country.

The Reserve Bank’s rate hikes have contributed to a slowdown in the number of dwelling approvals over 2023, HIA economist says.