Australian dwelling approvals rose 5.1% in September to 17,948, reversing August’s 5.2% fall, the ABS reports. The rebound was uneven: private houses fell 5.3%, while private dwellings excluding houses rose 16.6%. Residential approval value also fell 2.8%. The headline recovery therefore masks weaker house approvals and a different mix of projects; these figures measure permits, not completed homes.
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Seasonally adjusted dwelling approvals rose 5.1% in September after falling 5.2% in August.
Australian Bureau of StatisticsPrivate sector house approvals fell 5.3%, while private sector dwellings excluding houses rose 16.6%.
Australian Bureau of StatisticsLimitation: approvals are permits that allow construction to begin, rather than completed dwellings.
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