Australia’s Building Approvals for June 2023 indicate a decrease in the number of dwelling units approved and a mixed trend in the value of buildings approved.

According to the latest release by the Australian Bureau of Statistics (ABS) on 1st August 2023, the key statistics for June 2023 are as follows:

  1. Dwelling Units Approved:
    • Total dwelling units approved decreased by 7.7%.
    • Private sector houses fell by 1.3%.
    • Private sector dwellings excluding houses fell significantly by 21.0%.
  2. Value of Building Approved:
    • The value of total building rose by 1.2%.
    • The value of non-residential buildings increased by 7.6%.
    • However, the value of new residential building fell by 4.6%.

In more detail, the seasonally adjusted estimate for the number of dwellings approved in Australia fell by 7.7% in June 2023, following a substantial 20.5% increase in May. The trend estimate for total dwellings approved rose by 0.8% in June, after a 0.8% rise in May.

When looking at the types of buildings approved, the seasonally adjusted estimate for private sector house approvals decreased by 1.3% in June, reaching 8,048 dwellings, following a 0.8% rise in May. Private sector dwellings excluding houses saw a sharp drop of 21.0% in June, following an unusually high 60.4% increase in May. The trend estimate for private sector house approvals also fell by 0.3% in June, following a 0.6% fall in May. However, private sector dwellings excluding houses trend estimate rose by 2.1% in June, following a 2.7% rise in May.

Regionally, the seasonally adjusted summary indicates that total dwelling approvals rose in Queensland (28.3%), Victoria (26.4%), Western Australia (8.7%), and South Australia (0.8%) in June 2023. However, New South Wales (-44.9%) and Tasmania (-35.6%) saw a significant decline in seasonally adjusted terms. Approvals for private sector houses fell in Western Australia (-5.5%) and Victoria (-2.7%), while South Australia (4.6%), Queensland (3.6%), and New South Wales (2.3%) experienced increases.

When considering the value of building approved, the seasonally adjusted estimate for the total value of building approved rose by 1.2% in June 2023, following a notable 11.4% rise in May. The value of total residential building approvals fell by 4.6%, with a 4.6% decrease in new residential building and a 4.7% fall in alterations and additions. However, the value of non-residential building increased by 7.6% in June, following a 7.2% rise in May. On the trend estimate, the value of total building approved rose by 3.2% in June, following a 3.4% increase in May. The value of non-residential building approved also rose by 5.9% in June, after a 6.6% increase in May.

Overall, these building approval statistics provide valuable insights into the current state of the Australian property market and construction sector.

https://www.abs.gov.au//statistics/industry/building-and-construction/building-approvals-australia/jun-2023


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