Building approvals continue decline
Building approvals have continued to decline sharply over the month to June, according to the latest ABS figures.
Total dwelling units approved have dropped by -1.3% to be nearly 21% down over the year to June 2019.
In June 2018 there were around 19,000 of units being approved. Now there are just 14,500.
"The trend series for total dwellings has fallen for 19 consecutive months," said Daniel Rossi, director of construction statistics at the ABS.
"The decrease in June was driven by private dwellings excluding houses, which fell 2.5 per cent in trend terms.
"Approvals for private houses were also down 0.8 per cent."
Total dwelling approvals fell in the Australian Capital Territory (4.7 per cent), Tasmania (3.8 per cent), Western Australia (3.5 per cent), New South Wales (2.9 per cent) and South Australia (0.8 per cent), in trend terms.
Increases were recorded in the Northern Territory (5.8 per cent), Victoria (0.4 per cent) and Queensland (0.2 per cent).
The trend estimate of the value of total building approved rose 0.4% in June and has risen for six months.
The value of residential building fell 0.8% and has fallen for 17 months. The value of non-residential building rose 2% and has risen for 10 months.
The seasonally adjusted estimate of the value of total building approved rose 2% in June. The value of residential building fell 3.1%, while the value of non-residential building rose 9.6%.
