February Building Approval Statistics; What They Are and What They Mean …

Number of Dwelling Units The trend estimate for total dwellings approved rose 0.8% in February after falling for eight months. The seasonally adjusted estimate for total dwellings approved rose 8.3% in February and has risen for two months. Private Sector Houses The trend estimate for private sector houses approved fell 0.6% in February and has fallen for 12 months. The seasonally adjusted estimate for private sector houses rose 5.3% in February after falling for two months. Private Sector Dwellings Excluding Houses The trend estimate for private sector dwellings excluding houses rose 2.4% in February and has risen for two months. The seasonally adjusted estimate for private sector dwellings excluding houses rose 10.9% in February and has risen for two months. Value of Building Approved The trend estimate of the value of total building approved fell 0.1% in February and has fallen for seven months. The value of residential building rose 1.5% and has risen for two months. The value of non-residential building fell 3.3% and has fallen for six months. The seasonally adjusted estimate of the value of total building approved rose 19.9% in February following a fall of 3.0% in the previous month. The value of residential building rose 13.9% and has risen for four months. The value of non-residential building rose 34.5% following a fall of 16.9% in the previous month. To discuss the topic of this article, please contact the writer Brett Vincent, Principal, on +61 2 9261 5900 or brett.vincent@vincentyoung.com.au.

The February Key Points Include:

Number of Dwelling Units

The trend estimate for total dwellings approved rose 0.8% in February after falling for eight months.
The seasonally adjusted estimate for total dwellings approved rose 8.3% in February and has risen for two months.
Private Sector Houses

The trend estimate for private sector houses approved fell 0.6% in February and has fallen for 12 months.
The seasonally adjusted estimate for private sector houses rose 5.3% in February after falling for two months.
Private Sector Dwellings Excluding Houses

The trend estimate for private sector dwellings excluding houses rose 2.4% in February and has risen for two months.
The seasonally adjusted estimate for private sector dwellings excluding houses rose 10.9% in February and has risen for two months.
Value of Building Approved

The trend estimate of the value of total building approved fell 0.1% in February and has fallen for seven months. The value of residential building rose 1.5% and has risen for two months. The value of non-residential building fell 3.3% and has fallen for six months.
The seasonally adjusted estimate of the value of total building approved rose 19.9% in February following a fall of 3.0% in the previous month. The value of residential building rose 13.9% and has risen for four months. The value of non-residential building rose 34.5% following a fall of 16.9% in the previous month.