Unit approvals came off the boil in July leading to big drop in housing approvals.
The latest Australian Bureau of Statistics (ABS) data shows the total number of dwellings approved fell 8.2 percent in July to 15,769.
ABS Head of Construction Statistics Daniel Rossi said the drop in total dwellings was driven by a 22.3 percent fall in private dwellings excluding houses, which had risen 33.5 percent in the previous month.
“The less volatile private sector houses rose 1.1 percent,” Mr Rossi said.
He said private sector house approvals rose 1.1 percent (to 9288 dwellings), after a 1.9 percent fall in June, with the result 0.3 percent higher than one year ago.
“New South Wales and Western Australia had the strongest rise in private sector house approvals, with both states up 3 percent.
“Victoria gained 1.3 percent and has risen for a fourth consecutive month, while South Australia was the only state to record a fall, down 6.1 percent.”
Mr Rossi said private sector dwellings excluding houses fell 22.3 percent, to 5943 dwellings.
“This followed a 33.5 percent rise in June, which was the highest result since December 2022.”
