Dwelling approvals drops
ABS Building Approvals show that the number of dwellings approved fell 7.6 per cent in October 2012, in seasonally adjusted terms, after rising for two months.
Dwelling approvals decreased in October in Victoria (-14.2 per cent), Queensland (-7.0 per cent) and South Australia (-0.1 per cent) but increased Tasmania (11.0 per cent), New South Wales (3.2 per cent) and Western Australia (0.1 per cent) in seasonally adjusted terms.
In seasonally adjusted terms, approvals for private sector houses fell 1.5 per cent in October. Private sector house approvals rose in New South Wales (5.5 per cent) but fell in South Australia (-7.9 per cent), Victoria (-4.5 per cent), Queensland (-2.4 per cent) and Western Australia (-1.3 per cent).
The value of total building approved fell 6.7 per cent in October, in seasonally adjusted terms, after rising for two months. The value of residential building fell 12.9 per cent while non-residential building rose 6.7 per cent.
Further information is available in Building Approvals, Australia (cat no. 8731.0) on the ABS website at www.abs.gov.au