DWELLING APPROVALS REMAIN AT HIGH LEVELS IN MAY

Australian Bureau of Statistics (ABS) Building Approvals show that the number of dwellings approved fell 0.1 per cent in May 2015, in trend terms, after rising for 11 months.  In May, dwelling approvals decreased in South Australia (3.8 per cent), Queensland (2.1 per cent) and New South Wales (0.5 per cent) but increased in the Northern Territory (9.7 per cent), Australian Capital Territory (6.0 per cent), Tasmania (3.3 per cent), Victoria (1.1 per cent) and Western Australia (0.4 per cent) in trend terms.The value of total building approved fell 0.9 per cent in May, in trend terms, and has fallen for three months. The value of residential building rose 0.1 per cent while non-residential building fell 3.4 per cent in trend terms.

Further information is available in Building Approvals, Australia (cat no. 8731.0) on the ABS website at http://www.abs.gov.au