10/01/2022 - 11:15

Housing approvals continue to dip

10/01/2022 - 11:15

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WA shows a 1.1 per cent drop in dwelling approvals, while nationally there was a 3.6 per cent rise.

Housing approvals continue to dip
Dwelling approvals dropped by 1.1 per cent in WA in November.

Council approvals to build new homes in WA fell by 1.1 per cent in November, the third consecutive month WA housing approvals have fallen, Australian Bureau of Statistics data shows.

Nationally, dwelling approvals rose by 3.6 per cent in the same period, after a 13.6 per cent drop in October.

In WA, private sector dwelling approvals dropped by 12 per cent in November, with Victoria the only other state where private sector housing approvals fell, by 0.8 per cent.

During November, 1,286 private sector houses and 1,574 units were approved in WA.

This marks a drop from 1,451 and 1,575 units approved in WA in October, when dwelling approvals dropped by 3 per cent.

In September, WA’s dwelling approvals plummeted by 20.9 per cent, after a 21 per cent rise in the previous month.

ABS director of construction statistics Daniel Rossi said dwelling approvals had been at historic highs during the past 12 months, driven by government stimulus and low interest rates.

“While private house approvals are no longer at record highs, the November result remains 25.8 per cent higher than the pre-pandemic level in November 2019, indicating on-going strength in the detached housing market,” he said.

NSW was the only other state to show a drop in dwelling approvals in November, with an 18.4 per cent decrease.

November dwelling approvals rose by 40.8 per cent Tasmania, 20 per cent in Queensland, 14.5 per cent in South Australia and 8.9 per cent in Victoria (8.9 per cent).

Housing Industry Association of WA anticipates housing starts in WA to reach 22,279 in 2021-22 – a 7 per cent drop on 2020-21.

 

 

 

 

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