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{{propApi.successMessage}} {{region}} Change locationHouse approvals remain at low levels
House approvals remain at low levels
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The Australian Bureau of Statistics today released its monthly building approvals data for November 2023 for detached houses and multi-units covering all states and territories.
“The fall in this month’s figures sees approvals in the three months to November lower by 8.0 per cent compared to the same period in the previous year,” added Mr Reardon.
“The low volume of building approvals throughout 2023 will see the volume of homes commencing construction continue to slow this year.
“Other leading indicators of activity in the housing market, such as new home sales and housing finance data, are also consistent with their confirmation of this projected slowdown.
“The rise in the cash rate is the primary cause of this slowdown in approvals.
“A continued fall in the number of new homes approved indicates a slow start to the Australian government’s ambition to build 1.2 million new homes in five years starting mid-2024,” concluded Mr Reardon.
In seasonally adjusted terms, decreases in house approvals in the three months to November compared to the same period in the previous year were led by New South Wales (-16.0 per cent), Victoria (-7.2 per cent), South Australia (-6.6 per cent) and Queensland (-6.0 per cent). Western Australia saw a 5.4 per cent increase over the same period. In original terms, detached approvals in the same period fell in the Northern Territory (-30.5 per cent) and in Tasmania (-21.9 per cent), while the Australian Capital Territory saw an increase (+3.0 per cent).
Building Approvals - Australia
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Victorian Government small sites pilot program
The state government has established the Small Sites Pilot Program to unlock government land for housing development.
Strongest home sales for 3 years
“Sales of new detached homes increased by 18.8 per cent in the three months to June 2025 compared to the previous three months,” stated HIA Chief Economist, Tim Reardon.
NT approvals reform a step in the right direction
“The Housing Industry Association has welcomed the Northern Territory Government’s commitment to streamlining the Territory’s planning and building approval system,” HIA Executive Director NT, Luis Espinoza said today.
New Housing Pattern Book is a step in the right direction
“HIA welcomes the release of the new NSW Housing Pattern Book, which is another tool that could help make the delivery of new housing in NSW easier,” said Brad Armitage, HIA NSW Executive Director.