Australian dwelling approvals October 2015: Westpac's Matthew Hassan

Australian dwelling approvals October 2015: Westpac's Matthew Hassan
Jonathan ChancellorNovember 30, 2015

GUEST OBSERVER

Approvals came in well above expectations with a 3.9% rise vs consensus forecast of a 2.5% decline.

The upside was due to a jump in high-rise approvals in NSW and Vic, where total approvals rose 20%.

The rest of the detail was soft, consistent with a moderate underlying downtrend in approvals.

Monthly volatility continues to make pinpointing the pace of this slowdown difficult although it still appears to be mild.


Details
 

Private houses  -2.1%mth, -1.9%yr  
Private 'units'    10.6%mth, 29.6%yr                

NSW     22%mth, 27.1%yr  
Vic       21.2%mth, 18.1%yr 
Qld       -28.7%mth, 14.2%yr
WA       -1.1%mth, -20.8%yr
SA        23.4%mth, 15.1%yr                 

Alteration & additions^   3.7%mth, 8.9%yr
Non-residential^             -1%mth, 19.6%yr

 

Matthew Hassan is senior economist with Westpac.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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