Building Approvals Stay Strong

There is still strong demand for new housing six months after the end of the HomeBuilder stimulus.

ABS building approvals figures show detached building approvals in the three months to September 2021 were 15.5% higher than at the same time in 2020 and 32.2% higher than the same time in 2019.

HIA Economist Tom Devitt says the figures show a healthy pipeline of home building work to the end of next year. The figures also show the demand for units strengthened in September, with approvals up 34.3% on the same time in 2020.

Devitt says apartment approvals have been improving over the last year or so and renovations are still going strong. The value of renovations is up 10.6% compared with September 2020.

Total building approvals in the September Quarter were up the most in NSW (38%) compared with the same time last year. South Australia was up 30%, Western Australia 29%, Queensland 23% and Victoria 10%. Tasmania was down 11% while the Northern Territory was down 31%.