Both household spending and housing approvals fell in March.
The latest Australian Bureau of Statistics (ABS) data shows household spending fell 0.3 percent, while the total number of dwellings approved dropped by 8.8 percent in the month.
ABS Head of Business Statistics Robert Ewing said the fall in household spending came after five positive months, with jumps of 0.3 percent in February and 0.5 percent in January.
“Queensland saw a 1.3 percent fall in spending, as ex-tropical cyclone Alfred impacted parts of the state,” Mr Ewing said.
He said March was the first month where the spending indicator included seasonally adjusted volumes that factored in inflation.
“This new data shows household spending volumes were relatively unchanged at 0.0 percent in March quarter 2025 compared to the previous quarter.”
ABS Head of Construction Statistics Brock Hermans said the total number of dwellings approved fell to 15,220 in March.
“Falls were seen across all dwelling types in March with private dwellings excluding houses down 15.1 percent, and private sector houses 4.5 per cent lower,” Mr Hermans said.
He said falls in Victoria and Queensland drove private sector houses lower.
“Across Australia, the number of private sector house approvals fell 4.5 percent (to 8804 dwellings), following a 1.1 percent rise in February.
“The result is 3.3 percent lower than March 2024.”
Mr Hermas said Victoria and Queensland were the main drivers of the fall, dropping 10.0 percent and 8.0 percent, respectively.
He said private sector dwellings approvals excluding houses fell 15.1 percent (to 6104 dwellings), following a 1.3 percent fall in February.
“Despite the drop, the series was 47.1 percent higher than March 2024.”
