The seasonally adjusted estimate for total dwellings approved in Australia surged 21.6 percent month-over-month in February 2021, unrevised from the preliminary estimate, and following a 19.4 percent slump in January. Approvals for private houses jumped 15.1 percent, exceeding the previous record-high set in December last year; while permits for private sector dwellings excluding houses soared 45.3 percent, coming off a nine-year low in January but remaining 28.7 percent lower than February 2020. Total dwelling approvals rose in Queensland (40.5 percent), Tasmania (31.6 percent), Victoria (21.7 percent), Western Australia (19.1 percent), and New South Wales (16.1 percent). Dwelling approvals fell in South Australia (3.4 percent). source: Australian Bureau of Statistics
Building Permits in Australia averaged 0.39 percent from 1983 until 2021, reaching an all time high of 31.60 percent in May of 2012 and a record low of -22 percent in December of 2017. 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 May 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.