Dwelling approvals up 3.1% in February

THE number of dwellings approved in Australia rose for the first time in two months in February, figures released by the Australian Bureau of Statistics show.

Dwelling approvals were up 3.1% for the month, in seasonally adjusted terms, with South Australia leading the way with a 23% spike.

Other states to experience an increase were Western Australia (5.3%), Queensland (3.8%) and Victoria (0.3%).
New South Wales (7.7%) and Tasmania (5.8%) had sharp downturns in approvals.

However, NSW had a 7.8% rise in private sector house approvals, second only to South Australia (9.9%).
Queensland private sector house approvals were down 7.7%.

Nationally approvals for private sector houses rose 0.5% in February.

The value of total building approved fell 3.1% following a rise of 7% in the previous month. The value of residential building rose 2.5% while non-residential building fell 11%.