The seasonally adjusted estimate for total dwellings approved in Australia rose by 3.6 percent month-over-month to 16,448 units in November 2021, unrevised from the preliminary data and swinging from a revised 13.6 percent slump a month earlier. This marked the first rise in building permits since August, driven by an increase in approvals for private sector dwellings excluding houses, which rose 9.7 percent following a 37.9 percent slump in October. Meanwhile, private sector houses continued to level off (1.4 percent vs 3.5 percent) after being at historically elevated levels over the past year due to government stimulus and record low-interest rates. Across Australia, dwelling approvals rose in Tasmania (40.8 percent), Queensland (20 percent), South Australia (14.5 percent), and Victoria (8.9 percent). In contrast, building permits fell in both New South Wales (-18.4 percent) and Western Australia (-1.1 percent). source: Australian Bureau of Statistics
Building Permits in Australia averaged 0.35 percent from 1983 until 2022, 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 January of 2022.
Building Permits in Australia is expected to be -2.00 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.