Australia’s Dwelling Units Approvals Up 5.5 Percent in May

Published on July 7, 2024

Australia’s dwelling units approved increasing 5.5 percent in May from the prior month, based on the Australian Bureau of Statistics (ABS) data, but it remains significantly lower than the federal government’s target. According to ABS, approved total dwelling units rose in the majority of the states with Western Australia leading the growth at 19.6 percent, followed by Victoria at 8.9 percent, and Queensland at 6.3 percent. Moreover, South Australia grew 4.1 percent while Tasmania climbed 3.8 percent. However, the Northern Territory and Australian Capital Territory remained flat during the period. On a year-on-year basis, Australia’s total dwelling units approved decreased 8.5 percent. Private sector houses slid 12 percent while private sector dwellings excluding houses plunged 31.7 percent....

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