In seasonally adjusted terms, dwelling approvals decreased by 20.0 per cent in December, driven by a fall in private dwellings excluding houses (39.2 per cent), while private house approvals rose 1.0 per cent. The value of total building approved fell 0.3 per cent in December, in trend terms, after rising for 11 months. The value of residential building fell 0.2 per cent while non-residential building fell 0.4 per cent.
Australian Building Approvals fell by 20.0%
The number of dwellings approved fell 1.7 per cent in December 2017, in trend terms, and has fallen for three months, according to data released by the Australian Bureau of Statistics (ABS) today. "Dwelling approvals have weakened in December, driven by a large decline in private dwellings excluding houses," said Daniel Rossi, Director of Construction Statistics at the ABS. "Approvals for private sector houses have remained stable, with just under 10,000 houses approved in December 2017."
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