The Property Value Conundrum 2
8th October 2021
Further to my blog yesterday we’ve just had stats release for building approvals which clarifies the “supply” side that I mentioned. See the graphs below for details.
The number of dwellings approved in Australia rose 6.8% in August, in seasonally adjusted terms. This follows a 8.6% decrease in July.
Private sector house approvals rose 3.5% in August, to 12,009, following a 5.5% fall in July. Private sector dwellings excluding houses rose 13.7% in August.
By state, total dwelling approvals increased in Western Australia (21.0%), South Australia (11.8%), Victoria (10.5%), Queensland (4.0%) in seasonally adjusted terms. Tasmania (-18.9%) and New South Wales (-2.3%) recorded declines in August.
Approvals for private sector houses rose in South Australia (16.6%), Victoria (8.1%), New South Wales (7.0%), while Western Australia (-7.3%) and Queensland (-5.2%) fell in seasonally adjusted terms.
Don’t hesitate to let me know if you want to discuss further.
Kind Regards
Lloyd
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