{{propApi.title}}
{{propApi.text}} {{region}} Change location{{propApi.title}}
{{propApi.successMessage}} {{region}} Change location {{propApi.title}}
{{propApi.text}} {{region}} Change location{{propApi.title}}
{{propApi.successMessage}} {{region}} Change locationApprovals for multi-units dip in July
Approvals for multi-units dip in July
Member and guest login
Enter your email and password to access secured content, members only resources and discount prices.
Did you become a member online? If not, you will need to activate your account to login.
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
Forgotten password
Need some help?
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
If the email address you have entered is registered, you will receive an email with further instructions.
Become part of the HIA community
Enables quick and easy registration for future events or learning and grants access to expert advice and valuable resources.
Create a guest account
Enter your details below and create a login
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.
Building Approvals - Australia
For more information please contact:
Stable construction cycle trajectory to continue in the Hunter
The Housing Industry Association (HIA) held yesterday an Outlook Breakfast in Newcastle to provide industry with the latest economic data, discuss HIA’s forecasts and share key insights in the residential construction sector.
Asbestos Awareness Week: reminder to remain vigilant on asbestos safety
“National Asbestos Awareness Week provides an important reminder as we head into end of year, when people may be looking to undertake renovation or DIY work on older properties and the need to be vigilant in managing safety on site,” Jocelyn Martin, HIA Managing Director, said today.
HIA welcomes new HAFF funding but warns delivery the real challenge
The Housing Industry Association (HIA) welcomes the announcement that Round 3 of the Housing Australia Future Fund (HAFF) facility will open early next year, expanding the pipeline of social and affordable housing projects, HIA Managing Director Jocelyn Martin said today.
Tropical Cyclone Fina
The Bureau of Meteorology has officially forecast Tropical Cyclone Fina to reach Category 3 intensity. There is a Cyclone warning currently in place for Top End coastal communities, including Darwin. Strong gale winds and rain are expected, as well as storm surge or tides.