The latest building ABS approvals data for August shows that the number of detached houses approved increased in August: nationally and in Victoria.  Multi-unit approvals, however, fell quite sharply, following big increases in July.

For August, in seasonally-adjusted terms, the total number of homes approved in Victoria eased slightly: by 0.7 per cent to 5266. Following their sharp rise in July, approvals of multi-units fell by 9.5 per cent to 2364. Approvals of houses increased by 7.9 per cent to 2902.

Although home approvals in New South Wales fell by 29 per cent in August compared with a fall of less than 1 per cent in Victoria, they still exceeded Victorian approvals.

In the year to August, however, Victorian approvals, at 68,337, were ahead of the 62,865 approved in New South Wales and well ahead of Queensland’s 44,387.

Trends in the value of building approved were negative for housing but there was another small rise in the value of non-residential building approved:

• The trend value of new housing approved in August fell by 1.9 per cent but was still 13 per cent higher than a year earlier.
• The trend in housing renovations fell by 1.4 per cent and was 1 per cent lower than a year ago, and
• The trend in non-residential building increased by nearly 0.8 per cent but was 11 per cent lower than a year earlier.