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The Australian Bureau of Statistics today released its monthly building approvals data for July for detached houses and multi-units covering all states and territories.
“Total building approvals decreased by 8.1 per cent in the month of July, which was driven by a 19.9 per cent dip in multi-unit approvals. The decline in approvals for detached houses was far more modest, declining by only a 0.1 per cent in the month,” added Mr Devitt.
“The slower rate of decline for detached house approvals is a welcome development, as it follows a succession of material monthly declines since the interest rate tightening cycle began.
“Over the three months to July, detached house approvals are 16.2 per cent lower the same three-month period in 2022, while multi-unit approvals are 7.8 per cent lower.
“At these very low levels, monthly building approvals are bound to bounce and present a degree of volatility. It does not yet indicate a material change in market conditions which remain dampened.
“In context of the chronic shortage of housing there is a strong focus on improving the supply of new housing, however efforts to improve supply are yet to appear in the approvals data. The continued supply-demand imbalance has wide-ranging implications not only for the housing market but for the wider economy,” concluded Mr Devitt.
In seasonally adjusted terms, decreases were led by Victoria (-18.3 per cent), followed by Queensland (-5.5 per cent), Western Australia (-5.2 per cent), New South Wales (-4.7 per cent) and South Australia (-2.6 per cent). In original terms, the Northern Territory saw a decline of 26.3 per cent. Tasmania (+47.8 per cent) and the Australian Capital Territory (+52.6 per cent) saw monthly increases.
The Housing Industry Association (HIA) has today expressed concern that the Tasmanian Government appears to have walked away from a key election commitment to accelerate the finalisation of Regional Land Use Strategies.
The Victorian Government’s proposed Building Electrification Regulations are scheduled to commence on 1 January 2027. These regulations will require all new residential and most new commercial buildings to be built as all-electric, and in existing residential buildings an existing gas hot water systems (HWS) will be required to be replaced with electric HWS at end-of-life.
Notice is hereby given that the Annual Regional Meeting of Members of the Victoria Region of Housing Industry Association Limited will be held on Monday 16 February 2026 at HIA Cremorne Office – Level 1, 8 Gwynne Street, Cremorne, Victoria, 3121 commencing at 5.00pm.
The Victorian government has released today, on the stroke of Christmas for public consultation the draft regulations implementing parts of the Building Legislation Amendment (Buyer Protections) Act.