The seasonally adjusted estimate for total dwellings approved in Australia tumbled 12.9 percent month-over-month to 15,911 units in October 2021, compared with market expectations of a 2 percent drop and after a final 3.9 percent fall a month earlier, flash data showed. There was a slump in approvals for private sector dwellings excluding houses (-37.5 percent vs 17.6 percent in September). By contrast, permits for private sector houses rose by 4.3 percent after plunging 14.8 percent in September, driven by government stimulus and record low-interest rates. The number of dwelling approvals fell in New South Wales (-29.4 percent), dragged down by a large decline in apartment developments approved. Also, building permits fell in South Australia (-8.1 percent), Western Australia (-2.7 percent), Victoria (-2.0 percent), and Tasmania (-1.8 percent). On the other hand, the approvals rose in Queensland (2.2 percent). source: Australian Bureau of Statistics
Building Permits in Australia averaged 0.34 percent from 1983 until 2021, reaching an all time high of 31.70 percent in May of 2012 and a record low of -22.10 percent in December of 2017. This page provides the latest reported value for - Australia Building Permits - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Dwelling Approvals - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.
Building Permits in Australia is expected to be -6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Dwelling Approvals is projected to trend around 3.00 percent in 2022, according to our econometric models.