Australia’s Bureau of Statistics reported that total dwelling approvals fell 1.1 % in May, reaching 17,019 units. The decline was driven by a 10.4 % drop in private dwellings excluding houses, while private sector house approvals increased 2.8 % to 10,537 units – the fourth consecutive month above 10,000 and 13.2 % higher than a year earlier. Western Australia and New South Wales led the rise in house approvals, with growth of 9.9 % and 7.8 % respectively. In contrast, private dwellings excluding houses fell 30 % to 2,877 units, a 29.3 % fall from the twelve‑month average. The value of approved buildings climbed 13.6 % to $21.07 billion, with non‑residential approvals surging 41 % to $10.83 billion, largely due to data‑centre projects, while residential values fell 5.7 %.
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This article is a summary of content originally published by the Australian Bureau of Statistics.
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