The seasonally adjusted estimate for total dwellings approved in Australia declined by 7.1 percent month-over-month to 20,163 units in May 2021, unrevised from the preliminary figure and after a final 5.7 percent drop in the prior month, pointing to the second straight month of fall. Private sector houses fell 10.3 percent, coming off the back of the record high in April. In contrast, private sector dwellings excluding houses went up 1.2 percent after tumbling 24 percent in April. Among states and territories, building permits fell in Queensland (-13.1 percent), South Australia (-11.9 percent), New South Wales (-10.9 percent), and Western Australia (-8.7 percent). In contrast, dwelling approvals rose in Victoria (3.2 percent) and Tasmania (2.0 percent). source: Australian Bureau of Statistics
Building Permits in Australia averaged 0.40 percent from 1983 until 2021, reaching an all time high of 31.70 percent in May of 2012 and a record low of -22.10 percent in December of 2017. 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 July of 2021.
Building Permits in Australia is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Building Permits in Australia to stand at 2.50 in 12 months time. In the long-term, the Australia Dwelling Approvals is projected to trend around 3.00 percent in 2022, according to our econometric models.