Building approvals climb higher

Fresh figures from the Australian Bureau of Statistics (ABS) show new home building approvals continued to rise in March.

A total of 19,371 new dwellings were approved for construction during the third month of 2016, an increase of 3.7 per cent from February.

Private sector dwellings excluding houses saw the biggest increase in March – up 6.7 per cent – while private sector house approvals rose by 2.6 per cent.

South Australia recorded the largest increase in approvals at 8.7 per cent, followed by Western Australia (7.3 per cent), New South Wales (6.9 per cent), Queensland (5.7 per cent) and Victoria (3.7 per cent).

Tasmania was the only state to experience a decline in approvals, down 18.7 per cent.

The figures also showed that while building approvals were up on a monthly basis, they were down 6.5 per cent in the 12 months to March.

Private sector dwellings recorded the biggest decline in approvals during the 12-month period – down 11.5 per cent – while private sector house approvals fell by 0.2 per cent.

[Related: Home building hit new high in 2015]

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