Save thousands on your home loan
Compare 25+ lenders and hundreds of loans in an instant
I want:
Westpac Macquarie citibank commonwealth bank anz bankwest
finni mortgages logo
google reviews
4.9
star star star star star
Rating based on 147 reviews

×

Residential dwelling approvals drop

The average number of residential dwellings approved for construction nationally fell in September, new statistics show.

RP Data reported that the total number of approved dwellings dropped by 13.6 per cent.

The non-house category, including apartments and semi-detached residences, had the largest fall, with a drop in September of 32 per cent.

In August, non-house approvals increased by 28 per cent.

“That doesn’t create much hope for new home starts over the coming 6 to 12 months,” said RP Data research analyst Tim Lawless.

Victoria was the only state where approvals were above the ten year average.

“Whether we see a supply response in the dwelling approval figures is yet to be seen,” Mr Lawless said. “However, considering the more timely nature of the approvals data compared with demographic updates, an upswing in approvals and dwelling construction doesn’t yet seem to be on the cards.”

You need to be a member to post comments. Become a member for free today!


Related articles