The seasonally adjusted estimate for total dwellings approved in Australia declined by 0.7 percent month-over-month to 16,461 units in June 2022, compared with market expectations of a 5% drop and shifting from an upwardly revised 11.2 percent jump a month earlier. The decrease was mainly due to a fall in approvals for private sector dwellings excluding houses (-5.7 percent vs 34.6 percent in May), while permits for private sector houses grew (1.2 percent vs - 2.1 percent). Across Australia, the number of dwelling approvals dropped in South Australia (-10.1 percent) and Queensland (-2.0 percent), while increases in Victoria (6.3 percent), Western Australia (1.7 percent), New South Wales (1.5 percent) and Tasmania (1.0 percent). On a yearly basis, however, building permits sank 17.2 percent. source: Australian Bureau of Statistics
Building Permits in Australia averaged 0.37 percent from 1983 until 2022, reaching an all time high of 41.40 percent in February of 2022 and a record low of -24.60 percent in January of 2022. This page provides the latest reported value for - Australia Building Permits - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Dwelling Approvals - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
Building Permits in Australia is expected to be 6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Dwelling Approvals is projected to trend around 3.00 percent in 2023, according to our econometric models.