Dwelling approvals rise 0.7% in July, with ACT and NT driving the growth (ABS data)

Richard Whitten 11 September 2017

Tower crane on apartment building

ABS data for July 2017 reveal a rise in dwelling approvals for the third month in a row, with a total of 17,822 buildings approved.

The latest ABS figures on dwelling approvals for the month of July 2017 show a continued increase in the number of dwelling approvals.

This is a marked difference from earlier in the year, when the number of approvals dropped continuously for an eight-month period.

All states and territories saw an increase in dwelling approvals, with the strongest growth in the Northern Territory (9.7%).

The percentage increases by state are as follows:

  • Northern Territory: 9.7%
  • Australian Capital Territory: 8.8%
  • New South Wales: 0.4%
  • Queensland: 0.2%
  • Victoria: 1.0%
  • Western Australia: 0.8%
  • Tasmania: 1.0%

The total number of dwellings approved in July is as follows:

Interestingly, this represents a drop from July last year, which saw 2,575 more dwellings approved across the country.

When looking at the value of building approvals, there was an overall increase of 1.3% (in trend terms) in July. Non-residential buildings drove this value increase while the value of residential buildings was flat.

In a media release, ABS Director of Construction Statistics Daniel Rossie said, "The value of non-residential building approvals have risen for the past six months, in trend terms, reaching a record high in July 2017."

Given that housing supply is a key factor in property prices, both property investors and owner-occupiers alike should look at housing construction data when making buying decisions.

Looking for a home loan? Compare home loans here or check out our complete guide for first home buyers.

Get more from finder

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.
Ask a question
Go to site