The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
LESS THAN 30 DAYS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
4 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
SECURE YOUR SPOTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterMon 02 Nov 15

Building Approvals Momentum Easing

b

ABS figures released today show that building approvals increased by 2.2 per cent in September and therefore continue to flow through at a historically high level. However, the strong upward momentum in multi-unit approvals that characterised the earlier part of the cycle has dissipated, said the Housing Industry Association.

"Around the nation, there was a total of 9,300 'other dwellings' approved during September. While this equates to a 6.1 per cent increase in approvals during the month, the level was still well below the high water mark set earlier in the year," said HIA Economist Geordan Murray.

"Approvals for dwellings in multi-unit developments continued to demonstrate a high degree of volatility, particularly at the state level. There were large fluctuations in a number of states, most notably in Queensland where multi-unit approvals jumped by more than 80 per cent.""The increase in multi-unit approvals was balanced by a modest decline of 1.9 per cent in detached house approvals. There were a total of 9,600 new detached houses approved during September, which is consistent with the level we have seen each month since the beginning of 2014.""Today's result reaffirms our view that we are seeing the peak in the current cycle, and we expect to see building approval numbers easing back throughout early 2016. However, there is a very large volume of work in the pipeline that will sustain a very healthy level of actual building activity throughout the upcoming year."During September 2015, total seasonally adjusted new home building approvals increased in Victoria, Queensland and Tasmania. Seasonally adjusted approvals declined in New South Wales, South Australia and Western Australia. In trend terms, approvals declined by 3.5 per cent in the Northern Territory and by 0.7 per cent in the Australian Capital Territory.

ResidentialAustraliaSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Exclusive

Fortis Reveals Plans for Coveted Bowen Terrace Site

Taryn Paris
4 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
View All >
Residential

Consolidated Reveals Next Riverfront Play in $64m Deal

Leon Della Bosca AND Taryn Paris
Wynnum Masterplan hero
Development

Masterplan Revealed for Brisbane Bayside Super-Site

Phil Bartsch
Markets

Private Credit’s Biggest Risk in Expansion: Sameer Chopra

Taryn Paris
In this exclusive member-only webinar CBRE head of research Sameer Chopra explores the growth of the private credit mark…
LATEST
Residential

Consolidated Reveals Next Riverfront Play in $64m Deal

Leon Della Bosca AND Taryn Paris
3 Min
Wynnum Masterplan hero
Development

Masterplan Revealed for Brisbane Bayside Super-Site

Phil Bartsch
4 Min
Markets

Private Credit’s Biggest Risk in Expansion: Sameer Chopra

Taryn Paris
2 Min
Deicorp Five Dock Mixed-Use Precinct
Residential

Deicorp’s $1.8bn Inner-West Sydney Precinct Greenlit

Vanessa Croll
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/building-approvals-momentum-easing