Dwelling approvals on the rise
THE total number of dwellings approved in Australia rose 7.4% in seasonally adjusted terms in March.
Figures released by the Australian Bureau of Statistics on Monday revealed the rise, which came after an 8.85% fall in February.
New South Wales led all states with a 49.3% rise in dwelling approvals in March, followed by Western Australia (11.1%) and South Australia (4.2%). Queensland suffered a sharp decline in dwelling approvals (-8.7%), along with Tasmania (-6.7%), and Victoria (-5.0%).
Approvals for private sector houses rose 3.9% in seasonally adjusted terms in March, with rises in South Australia (16.3%), Western Australia (14.5%), New South Wales (3.5%) and Queensland (1.8%). Victoria fell (-1.0%).
The value of total building approved decreased 8.9% in March, following a decrease of 31.7% in February.
The value of residential building rose 1.3% while non-residential building fell 23.4%.