The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
UPCOMING EVENT - INDUSTRIAL AND LOGISTICS SUMMIT 16 OCTOBER, SYDNEY
INDUSTRIAL AND LOGISTICS SUMMIT - TICKETS NOW ON SALE
LEARN MOREDETAILS
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
Korean coliving hero
Exclusive

Disconnection by Design: Why ‘Untech’ is the Next Big Amenity

Clare Burnett
5 Min
Global Shifts Redraw the Map for Australia’s Office Market
Exclusive

Office Eyes Slowdown as New Stock Supply Becomes a Trickle

Vanessa Croll
7 Min
Salta MD Sam Tarascio
Exclusive

Why Salta Won’t Break Ground on $400m Pipeline

Leon Della Bosca
7 Min
Exclusive

Precinct Proposals Bloom as Brisbane Middle-Ring Sheds its Past

Phil Bartsch
8 Min
Exclusive

Newest Land Lease Player Plots Sector Shake-Up

Taryn Paris
5 Min
View All >
Placemaking

Arup to Lead Brisbane Games Victoria Park Masterplan

Lindsay Saunders
Billbergia Chatswood Twin Towers
Development

Billbergia, Metrics Chase 46 Storeys in $400m Towers Uplift

Vanessa Croll
Korean coliving hero
Exclusive

Disconnection by Design: Why ‘Untech’ is the Next Big Amenity

Clare Burnett
Building in ways to press pause on connected lives is enhancing project appeal, resident satisfaction and long-term valu…
LATEST
Placemaking

Arup to Lead Brisbane Games Victoria Park Masterplan

Lindsay Saunders
3 Min
Billbergia Chatswood Twin Towers
Development

Billbergia, Metrics Chase 46 Storeys in $400m Towers Uplift

Vanessa Croll
3 Min
Korean coliving hero
Exclusive

Disconnection by Design: Why ‘Untech’ is the Next Big Amenity

Clare Burnett
5 Min
Infrastructure

Tasmanian Premier Shrugs off Damning Stadium Report

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