Australia Building Permits Fall 10.5% in March

The seasonally adjusted number of total dwellings approved in Australia fell 10.5% month-on-month to 17,300 units in March 2026, reversing a 31.0% surge in February, confirming preliminary data. This marked the steepest decline since late December, driven primarily by a sharp contraction in approvals for private sector dwellings excluding houses (-26.0% vs 101.1% in February), while growth in private sector house approvals eased to 0.9% from 2.0%. By region, total dwelling approvals declined in most states, including Victoria (-16.9%), Western Australia (-15.5%), Queensland (-6.4%), and South Australia (-2.1%), while increases were recorded in New South Wales (3.2%) and Tasmania (2.6%). Despite the monthly decline, total dwelling approvals were still up 9.0% year-on-year, following a 16.1% gain in the previous period.

The seasonally adjusted number of total dwellings approved in Australia plunged 10.5% month-on-month to 17,300 units in March 2026, sharply reversing an upwardly revised 31.0% jump in the previous month and coming in worse than market forecasts of a 9.9% decline, preliminary data showed. It marked the steepest decline in permits since last December, as approvals for private sector dwellings excluding houses slumped (-26.0% vs 101.1% in February). Meanwhile, permits for private sector houses eased (0.9% vs 2.0%). However, despite easing growth, private sector house approvals reached their highest level since November 2021, with 10,194 units approved. By region, building permits declined in most states, including Victoria (-16.9%), Western Australia (-15.5%), Queensland (-6.4%), and South Australia (-2.1%). By contrast, permits rose in both New South Wales (3.2%) and Tasmania (2.6%). On an annual basis, dwelling approvals grew 9.0%, following an upwardly revised 16.1% gain in February.

The seasonally adjusted number of total dwellings approved in Australia soared 29.7% month-on-month to a near five-year high of 19,022 units in February 2026, confirming preliminary data and swinging from a 7.2% drop in the previous month. It marked the first rise in permits since November, as approvals for private sector dwellings excluding houses rebounded strongly (101.2% vs -25.0% in January). Meanwhile, permits for private sector houses were subdued (0.2% vs 1.7%). By region, building permits increased in most states, including New South Wales (10.1%), Victoria (85.1%), Queensland (14.7%), South Australia (12.3%), and Western Australia (3.1%). In contrast, Tasmania saw a 27.7% decline. On an annual basis, dwelling approvals expanded 14.0%, reversing a 1.5% drop in January.