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Building approvals turn the corner

WA BUILDING approvals turned the corner after a slight decline in August, increasing 2.5 per cent in September according to the Australian Bureau of Statistics.

August figures showed a decline of 1.1 per cent seasonally adjusted but this decline has been reversed in the latest figures as people continue to drive housing demand before the introduction of the GST.

In September 2,077 dwellings were approved in WA, compared with 1,317 approvals in September 1998 – an increase of 57.7 per cent. WA fared better then Australia as a whole.

Australian building approvals dropped 4.4 per cent in September despite an increase in private housing approvals of 3.5 per cent.

Australian states showed mixed results in building approvals. Queensland and South Australia had a 14.9 per cent and 15.1 per cent increase respectively in approvals seasonally adjusted for September.

At the other end of the spectrum, New South Wales and Victoria showed 20 per cent and 13.5 per cent declines respectively in dwellings approved.

The building sector added almost $3 billion to the Australia economy during September and $377

million into the WA economy.

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