QTPA Member Alert |Housing Approvals Completed – Construction Commenced
Housing Approvals Completed – Construction Commenced
It was interesting recently to learn that Housing Approvals have dropped slightly over the past couple of months. However on the upside those record approval levels are now turning into construction activity which is up. Engineering construction that was on such a high is now slowing up.
ABS Building Approvals, Australia, Feb 2014
FEBRUARY KEY FIGURES
| Feb 14 No. | Jan 14 to Feb 14 % change | Feb 13 to Feb 14 % change |
TREND | |||
Total dwelling units approved | 17 073 | 0.7 | 27.6 |
Private sector houses | 9 341 | 1.9 | 22.5 |
Private sector dwellings excluding houses | 7 510 | -0.7 | 37.9 |
SEASONALLY ADJUSTED | |||
Total dwelling units approved | 16 669 | -5.0 | 23.2 |
Private sector houses | 9 293 | -2.1 | 21.8 |
Private sector dwellings excluding houses | 7 146 | -8.7 | 32.7 |
VALUE OF BUILDING APPROVED
The trend estimate of the value of total building approved rose 0.2% in February and has risen for eight months. The value of residential building rose 0.2% and has risen for 12 months. The value of non-residential building rose 0.3% and has risen for seven months.
- The seasonally adjusted estimate of the value of total building approved fell 0.3% in February and has fallen for two months. The value of residential building fell 0.2% and has fallen for two months. The value of non-residential building fell 0.5% and has fallen for two months.
ABS Engineering Construction Activity, Australia, Dec 2013
DECEMBER 2013 KEY FIGURES (2 month lag on Dwelling Approvals)
| Dec Qtr 13 $m | Sep Qtr 13 to Dec Qtr 13 % change | Dec Qtr 12 to Dec Qtr 13 % change |
TREND ESTIMATES | |||
Value of work done |
| ||
For the private sector | 25 199.8 | 2.4 | 5.1 |
For the public sector | 7 436.3 | -1.6 | -8.4 |
Total engineering construction | 32 625.0 | 1.4 | 1.6 |
SEASONALLY ADJUSTED ESTIMATES | |||
Value of work done |
| ||
For the private sector | 24 958.1 | -1.6 | 3.8 |
For the public sector | 7 493.6 | 1.7 | -9.6 |
Total engineering construction | 32 451.7 | -0.9 | 0.4 |
VALUE OF WORK COMMENCED, CURRENT PRICES
The value of Engineering Construction work commenced in the December quarter was $16,629.1m in original terms, a decrease of 19.9% from the September quarter.
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