The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
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 01 Jun 15

Detached House Approvals Hit 5 Year High

B

Detached house approvals hit a five year high during April, said the Housing Industry Association.

HIA Senior Economist Shane Garrett said, "During April, detached house approvals rose by 4.7 per cent in seasonally-adjusted terms to reach 10,264.""However, a weaker month for the multi-unit segment of the market actually drove new dwelling approvals lower during April."During April 2015, total new dwelling approvals fell by 4.4 per cent to 18,715 in seasonally-adjusted terms. The reduction was driven by the multi-unit segment, with 13.6 per cent reduction occurring during the month. Detached house approvals saw growth of 4.7 per cent during March. A total of 214,331 approvals were recorded in the year to April, the highest twelve monthly total on record.

"Strengthening activity in detached house building is crucial to broadening the base of the new home building recovery which has been largely contained to the multi-unit market to date. It is important that policy setting allows the expansion in detached house building to deliver on its full economic potential," Mr Garrett said.

During April 2015, seasonally-adjusted new dwelling approvals only increased in Tasmania. Approvals declined in all the other states, with the largest monthly reductions occurring in NSW, Queensland and in South Australia. New dwelling approvals also declined in Western Australia and in Victoria. In trend terms, new dwelling approvals increased in the ACT during April with a decline of 6.2 per cent in the Northern 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

Private Credit Surge, Skittish Buyers Force Banks to Loosen Presale Rules

Taryn Paris
5 Min
Forme's James Place on James Street, Fortitude Valley Brisbane
Exclusive

Forme Pushes the Boundaries on James Street Precinct

Renee McKeown
4 Min
Exclusive

Invicta House Rebirth Proves Recipe for Heritage Success

Leon Della Bosca
7 Min
Exclusive

Freecity’s $300m PBSA to Prove Worth of Modular at Scale

Leon Della Bosca
7 Min
Exclusive

Billbergia’s John Kinsella: Whiskey, Fun and a Fear of Heights

Vanessa Croll
8 Min
View All >
QBCC PCA Breakfast EDM
Residential

Queensland Developer Licensing Scheme Axed

Clare Burnett
HWL Ebsworth's adaptive reuse plan for 5 martin Place Sydney
Office

Martin Place ‘Money Box’ Revamp Plans Filed

Leon Della Bosca
Hindmarsh Tiers Retreat HERO
Hotel

Eco-Luxury Retreat Revealed for SA’s Fleurieu Peninsula

Leon Della Bosca
The luxury wellness retreat comprising 16 eco-pods has been revealed for South Australia’s growing nature tourism market…
LATEST
QBCC PCA Breakfast EDM
Residential

Queensland Developer Licensing Scheme Axed

Clare Burnett
5 Min
HWL Ebsworth's adaptive reuse plan for 5 martin Place Sydney
Office

Martin Place ‘Money Box’ Revamp Plans Filed

Leon Della Bosca
4 Min
Hindmarsh Tiers Retreat HERO
Hotel

Eco-Luxury Retreat Revealed for SA’s Fleurieu Peninsula

Leon Della Bosca
3 Min
Exclusive

Private Credit Surge, Skittish Buyers Force Banks to Loosen Presale Rules

Taryn Paris
5 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/detached-house-approvals-hit-5-year-high