March dwelling approvals rise

Media Release

Released

2/05/2024

Source

Building Approvals, Australia, March 2024

The total number of dwellings approved rose 1.9 per cent in March (seasonally adjusted), after a 0.9 per cent decrease in February, according to data released today by the Australian Bureau of Statistics (ABS).

Daniel Rossi, ABS head of construction statistics, said: "Approvals for private houses rose 3.8 per cent."

"Approvals for private sector dwellings excluding houses rose 3.6 per cent in March in seasonally adjusted terms, following a 12 year low in February."

Total dwelling approvals rose in Victoria (3.2 per cent) and Western Australia (1.5 per cent). Meanwhile, Tasmania (-18.1 per cent), South Australia (-7.0 per cent), Queensland (-5.2 per cent), and New South Wales (-1.2 per cent) fell in March.

Approvals for private sector houses rose in Victoria (6.0 per cent), New South Wales (4.0 per cent), Queensland (3.2 per cent), and South Australia (1.1 per cent). Only Western Australia (-1.8 per cent) saw a March decrease.

The average approval value for a new house continued its annual rise in March 2024, to $468,800 per house. This was 4.2 per cent higher than the average value in March 2023, although the pace of growth in average approval values has slowed. Higher construction costs continue to weigh on dwelling approvals, with the average approval value for a new house rising in all states.

By state, average approval value compared to a year ago rose the most in Queensland (10.1 per cent), followed by Western Australia (4.2 per cent), New South Wales (3.5 per cent), Victoria (3.5 per cent), and South Australia (0.4 per cent).

The value of total building approved rose 15.9 per cent, following a 16.8 per cent decrease in February. The value of total residential building rose 8.3 per cent, comprised of an 8.7 per cent increase in new residential building and a 6.1 per cent rise in alterations and additions.

The value of non-residential building rose 28.7 per cent, after a 16.8 per cent February fall.

Further information is available in Building Approvals, Australia.

Dwelling units approved, by building type, seasonally adjusted
	Total dwellings	Private sector houses	Private sector dwellings excluding houses
Mar-09	10,877	7,657	2,904
Apr-09	11,829	8,277	3,090
May-09	10,883	8,267	1,989
Jun-09	12,030	8,785	2,517
Jul-09	13,218	8,912	3,572
Aug-09	12,777	9,377	2,671
Sep-09	14,044	9,518	3,902
Oct-09	13,619	9,911	2,943
Nov-09	14,886	9,884	3,488
Dec-09	15,316	9,981	3,826
Jan-10	15,002	10,027	3,199
Feb-10	15,412	9,981	3,428
Mar-10	17,061	9,972	4,809
Apr-10	15,774	9,375	4,747
May-10	14,918	9,267	4,346
Jun-10	14,670	9,126	4,758
Jul-10	15,400	8,905	5,450
Aug-10	15,069	8,708	5,317
Sep-10	13,796	8,435	4,650
Oct-10	15,349	8,598	6,076
Nov-10	14,107	8,394	5,097
Dec-10	15,096	8,469	5,911
Jan-11	13,108	8,316	4,460
Feb-11	12,879	8,295	4,243
Mar-11	14,206	8,190	5,546
Apr-11	13,862	8,196	5,412
May-11	12,780	8,029	4,461
Jun-11	12,790	7,963	4,458
Jul-11	13,134	7,692	4,919
Aug-11	14,894	7,752	6,724
Sep-11	12,310	7,785	4,279
Oct-11	11,335	7,254	3,880
Nov-11	11,847	7,611	4,023
Dec-11	11,723	7,696	3,889
Jan-12	11,232	7,816	3,203
Feb-12	11,790	7,344	4,290
Mar-12	11,742	7,518	4,044
Apr-12	10,849	6,830	3,919
May-12	14,199	7,284	6,783
Jun-12	14,901	7,304	7,381
Jul-12	11,773	7,692	3,829
Aug-12	13,404	7,689	5,582
Sep-12	15,225	7,923	7,133
Oct-12	14,269	7,816	5,986
Nov-12	13,876	7,723	5,907
Dec-12	13,863	7,749	5,903
Jan-13	12,737	7,805	4,742
Feb-13	13,682	7,778	5,248
Mar-13	13,306	7,977	5,092
Apr-13	14,991	8,167	6,517
May-13	14,424	8,374	5,560
Jun-13	13,778	8,271	5,121
Jul-13	15,278	8,533	6,409
Aug-13	14,883	8,407	6,287
Sep-13	18,360	8,669	9,418
Oct-13	17,640	8,713	8,666
Nov-13	17,273	9,255	7,726
Dec-13	16,967	9,076	7,635
Jan-14	17,772	10,210	7,256
Feb-14	16,724	9,753	6,756
Mar-14	15,972	9,368	6,346
Apr-14	16,494	9,770	6,368
May-14	16,797	9,792	6,778
Jun-14	16,612	9,662	6,619
Jul-14	17,123	9,779	7,101
Aug-14	18,564	9,679	8,631
Sep-14	16,413	9,548	6,632
Oct-14	18,193	9,866	8,138
Nov-14	20,128	9,835	10,074
Dec-14	20,333	9,728	10,158
Jan-15	19,865	9,948	9,592
Feb-15	19,492	9,715	9,431
Mar-15	20,764	9,620	10,823
Apr-15	19,012	9,535	9,159
May-15	20,875	9,552	11,033
Jun-15	19,393	9,916	9,134
Jul-15	19,855	9,747	9,206
Aug-15	19,341	10,056	9,128
Sep-15	20,421	9,824	10,326
Oct-15	21,573	9,749	11,588
Nov-15	18,681	9,643	8,958
Dec-15	20,278	10,291	9,820
Jan-16	18,783	9,819	8,673
Feb-16	19,670	9,830	9,486
Mar-16	20,683	10,243	10,234
Apr-16	20,743	10,000	10,540
May-16	20,308	10,051	9,948
Jun-16	18,710	9,685	8,825
Jul-16	21,527	9,568	11,703
Aug-16	21,997	9,674	11,928
Sep-16	19,186	9,795	9,220
Oct-16	16,568	9,560	6,701
Nov-16	18,415	9,632	8,533
Dec-16	18,359	9,412	8,804
Jan-17	17,075	9,217	7,662
Feb-17	18,796	9,438	9,122
Mar-17	16,470	9,256	6,989
Apr-17	18,201	9,478	8,509
May-17	17,055	9,852	7,042
Jun-17	18,693	9,965	8,513
Jul-17	19,367	10,204	8,695
Aug-17	19,461	10,242	9,040
Sep-17	19,574	10,083	9,238
Oct-17	19,720	10,162	9,236
Nov-17	23,117	10,089	12,868
Dec-17	17,940	10,151	7,632
Jan-18	19,575	9,909	9,395
Feb-18	18,996	10,275	8,412
Mar-18	19,597	10,420	9,021
Apr-18	18,298	10,583	7,517
May-18	18,131	10,040	7,932
Jun-18	19,543	10,199	9,016
Jul-18	18,637	10,159	8,213
Aug-18	16,390	9,892	6,353
Sep-18	16,738	9,617	6,797
Oct-18	17,289	10,072	7,040
Nov-18	15,035	9,371	5,537
Dec-18	14,291	9,060	5,101
Jan-19	14,694	9,402	5,098
Feb-19	16,369	8,930	7,334
Mar-19	15,020	8,447	6,355
Apr-19	14,376	8,619	5,621
May-19	14,520	8,832	5,467
Jun-19	14,960	8,856	5,722
Jul-19	13,648	8,634	4,709
Aug-19	13,740	8,459	5,165
Sep-19	14,608	8,775	5,681
Oct-19	14,441	8,285	5,945
Nov-19	14,808	8,450	6,180
Dec-19	16,075	8,685	7,208
Jan-20	13,491	8,663	4,687
Feb-20	16,058	8,673	7,210
Mar-20	15,364	8,564	6,589
Apr-20	14,978	8,779	5,814
May-20	13,329	8,829	4,207
Jun-20	12,926	8,433	4,104
Jul-20	15,413	9,239	5,849
Aug-20	14,260	9,429	4,659
Sep-20	16,293	10,600	5,298
Oct-20	17,376	11,163	5,876
Nov-20	17,685	11,469	5,885
Dec-20	19,434	13,304	5,886
Jan-21	17,041	12,145	4,566
Feb-21	19,870	13,940	5,529
Mar-21	23,125	14,007	8,657
Apr-21	19,975	13,484	6,238
May-21	20,584	13,598	6,730
Jun-21	19,912	12,522	6,970
Jul-21	18,307	11,987	6,036
Aug-21	18,862	11,772	6,829
Sep-21	18,497	10,500	7,787
Oct-21	15,938	10,395	5,228
Nov-21	16,345	10,339	5,792
Dec-21	17,391	9,987	7,149
Jan-22	13,236	8,704	4,305
Feb-22	18,524	9,818	7,427
Mar-22	15,230	9,697	5,239
Apr-22	15,124	9,709	5,265
May-22	16,540	9,710	6,498
Jun-22	16,808	9,678	6,676
Jul-22	14,256	9,782	4,255
Aug-22	17,651	10,059	7,318
Sep-22	16,627	9,601	6,839
Oct-22	15,109	9,195	5,736
Nov-22	15,154	9,042	5,772
Dec-22	17,166	8,860	7,711
Jan-23	12,263	7,947	4,154
Feb-23	13,412	8,649	4,540
Mar-23	13,232	8,288	4,729
Apr-23	12,564	8,058	4,305
May-23	15,700	8,173	7,322
Jun-23	13,806	8,102	5,178
Jul-23	12,936	8,151	4,551
Aug-23	13,595	8,614	4,808
Sep-23	13,284	8,389	4,634
Oct-23	14,560	8,929	5,478
Nov-23	14,631	8,617	5,842
Dec-23	13,102	8,453	4,329
Jan-24	12,817	7,618	5,044
Feb-24	12,707	8,566	3,799
Mar-24	12,947	8,891	3,936

Dwelling units approved, by building type, seasonally adjusted

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Average value of new house approvals
	Average approval value ($)	Year on year (%) movement in average approval value
Mar-18	318,617	3.5
Apr-18	317,508	2.97
May-18	324,604	5.64
Jun-18	315,891	2.91
Jul-18	323,127	5.9
Aug-18	323,045	5.56
Sep-18	327,327	6.89
Oct-18	322,141	2.05
Nov-18	325,231	3.32
Dec-18	338,441	5.79
Jan-19	332,515	5.39
Feb-19	328,320	3.01
Mar-19	330,430	3.71
Apr-19	330,363	4.05
May-19	333,280	2.67
Jun-19	330,312	4.57
Jul-19	328,380	1.63
Aug-19	326,100	0.95
Sep-19	328,380	0.32
Oct-19	333,363	3.48
Nov-19	333,376	2.5
Dec-19	332,311	-1.81
Jan-20	331,650	-0.26
Feb-20	332,186	1.18
Mar-20	336,216	1.75
Apr-20	329,341	-0.31
May-20	334,630	0.41
Jun-20	333,232	0.88
Jul-20	336,019	2.33
Aug-20	329,777	1.13
Sep-20	323,580	-1.46
Oct-20	323,273	-3.03
Nov-20	323,149	-3.07
Dec-20	323,765	-2.57
Jan-21	320,807	-3.27
Feb-21	319,819	-3.72
Mar-21	327,832	-2.49
Apr-21	332,447	0.94
May-21	335,900	0.38
Jun-21	341,085	2.36
Jul-21	349,671	4.06
Aug-21	359,429	8.99
Sep-21	359,633	11.14
Oct-21	369,913	14.43
Nov-21	375,598	16.23
Dec-21	380,149	17.42
Jan-22	386,186	20.38
Feb-22	392,026	22.58
Mar-22	398,319	21.5
Apr-22	414,547	24.7
May-22	413,880	23.22
Jun-22	411,144	20.54
Jul-22	409,277	17.05
Aug-22	419,869	16.82
Sep-22	432,429	20.24
Oct-22	435,605	17.76
Nov-22	435,517	15.95
Dec-22	451,605	18.8
Jan-23	446,475	15.61
Feb-23	450,390	14.89
Mar-23	450,050	12.99
Apr-23	461,008	11.21
May-23	458,382	10.75
Jun-23	460,125	11.91
Jul-23	462,151	12.92
Aug-23	463,059	10.29
Sep-23	459,911	6.36
Oct-23	465,681	6.9
Nov-23	468,451	7.56
Dec-23	476,594	5.53
Jan-24	490,329	9.82
Feb-24	464,468	3.13
Mar-24	468,781	4.16

Average value of new house approvals

["","Average approval value ($)","Year on year (%) movement in average approval value"]

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[]

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Media notes

"Private sector dwellings excluding houses" includes semi-detached, row or terrace houses, townhouses and apartments.
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APA

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March dwelling approvals rise

APA

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