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Australia Oct Building Approvals Dip Further; -12.9%

AUSTRALIA DATA
MNI (Singapore)
  • The number of dwellings approved in Australia fell 12.9% in October, in seasonally adjusted terms. This follows a 3.9% decline in September.
  • Private sector house approvals rose 4.3% in October, to 10,799, following a 14.8% fall in September.
  • Private sector dwellings excluding houses fell 37.5%, driven by a large fall in apartment approvals in October.
  • The value of non-residential building approved fell 20.9%, further dip from 11.3% drop in September.
  • The value of total building approved fell 15.1% in October, in seasonally adjusted terms. The value of non-residential building fell 20.9%, having fallen 10.4% in September.
  • The value of total residential building fell 11.4%, comprising a 13.5% decrease in new residential building, and a 2.6% rise in alterations and additions.
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