WHILE indications show that building approvals in most states may have hit rock bottom, in WA the drop appears to be continuing.
According to data from the Australian Bureau of Statistics, dwelling approvals fell more than 16 per cent in November alone and followed a 5.4 per cent drop in the previous month.
In Victoria and South Australia building approvals rose strongly increasing by more than 25 per cent in November. In the two months to November 30, South Australian approvals increased 60 per cent.
Tasmania and Queensland also recorded strong increases in approvals.
While the trend for these states still point downward, indications from the ABS show the situation has improved in most states.
The value of building approvals seasonally adjusted fell in all the states, bar Victoria where approvals increased more than $130 million in November to $766 million. In WA, approvals were valued at about $200 million in November – well short of the $411 million approved in September 1999.
The story is repeated in the non-residential sector. While the other states managed to maintain or substantially improve their position in WA. non-residential approvals were valued at just $77 million in November compared with $110 million in September 1999.
