Boost for home and commercial builds

TOTAL dwelling approvals increased by 0.2 per cent, seasonally adjusted, in September 2017, adding an eighth consecutive month of positive growth in residential approvals according to Master Builders Australia.

“The data supports Master Builders Australia’s expectation of a moderate easing in residential construction activity leading into 2018 and our forecast that the trough will be relatively short lived,” Master Builders Australia’s national manager housing Matthew Pollock said.

“Approvals for the building of new housing rose by 1.5%, comprised of a 0.8% rise for new detached houses and a 2.3% lift in apartments over the course of the month.”

Across the states the picture was largely positive with only two experiencing a drop in dwelling approvals.

New South Wales (10.7%), South Australia (6.7%), Western Australia (27.1%) and Tasmania (16.6%), but fell in Victoria (-1.9%) and in Queensland (-17%).

“Big movements were seen in the non-residential sector with a 22.4% rise seasonally adjusted in the value of non-residential building approvals supporting growth of 8.3% in the value of total building approvals in September,” Mr Pollock said.

“While encouraging, it’s too early to mark this as a turning point for commercial construction as it followed a 10.9% fall in the previous month.”