The number of dwellings approved in Australia jumped by 10.9 percent month-over-month in December 2020, after an upwardly revised 3.3 percent gain in the previous month, and in line with the preliminary reading. This was the fourth straight month of rise in building permits and the steepest pace in three months, amid federal and state housing stimulus measures, along with record low-interest rates. Private sector houses expanded at a faster pace (15.8 percent vs 6.6 percent in November), while private sector dwellings excluding houses rebounded (2.3 percent vs -2.6 percent). source: Australian Bureau of Statistics
Building Permits in Australia averaged 0.35 percent from 1983 until 2020, reaching an all time high of 31.60 percent in May of 2012 and a record low of -21.70 percent in November of 2002. This page provides the latest reported value for - Australia Building Permits - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Dwelling Approvals - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Building Permits in Australia is expected to be 1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Building Permits in Australia to stand at 2.50 in 12 months time. In the long-term, the Australia Dwelling Approvals is projected to trend around 3.00 percent in 2022, according to our econometric models.