Media release – Australian Bureau of Statistics, 30 May 2024
April dwelling approvals fall
The total number of dwellings approved fell 0.3 per cent in April, after a 2.7 per cent rise in March, according to seasonally adjusted data released today by the Australian Bureau of Statistics (ABS).
Daniel Rossi, ABS head of construction statistics, said: “Approvals for private houses fell 1.6 per cent.”
“Approvals for private sector dwellings excluding houses also fell 1.1 per cent in April in seasonally adjusted terms.”
Total dwelling approvals fell in Tasmania (-16.1 per cent), New South Wales (-4.5 per cent) and Western Australia (-0.9 per cent). Rises were recorded in South Australia (13.9 per cent) and Queensland (5.0 per cent). Victoria was flat in April.
Meanwhile, approvals for private sector houses decreased in New South Wales (-5.0 per cent), Victoria (-2.0 per cent), Queensland (-0.2 per cent), and South Australia (-0.1 per cent), but rose in Western Australia (3.5 per cent).
The value of total building approved fell 3.8 per cent, following a 13.8 per cent rise in March. The value of total residential building fell 3.2 per cent, comprised of a 3.8 per cent drop in new residential building and a 0.4 per cent rise in alterations and additions.
The value of non-residential building approved fell 4.6 per cent, after a 21.7 per cent March rise.
Further information is available in Building Approvals, Australia.
Media release – Josh Willie MP, Shadow Treasurer, 30 May 2024
Building approval drop more evidence of economy in decline
Another big drop in building approvals is yet more evidence of Tasmania’s economy slowing to a halt under the Rockliff minority Liberal government.
ABS data released today shows Tasmanian building approvals were down 16 per cent for the month – the biggest drop in the nation.
There were roughly half as many building approvals this month than there were 40 years ago.
Since Jeremy Rockliff’s leadership sent his government into minority, Tasmania has already shed 5,000 jobs and we’re not faring much better on other economic indicators.
When you add in declining building approvals, businesses going bust at an alarming rate, record numbers of Tasmanians leaving for better opportunities elsewhere and the Premier preparing Tasmanians for a “challenging” and “difficult” budget, it’s clear things just keep getting harder under the Liberal-Lambie-independent coalition.
