The total number of dwellings approved fell 27.6% in January (seasonally adjusted) after a 15.3% increase in December, according to data released today by the Australian Bureau of Statistics (ABS).
Daniel Rossi, ABS head of construction statistics, says: "Approvals for private sector houses fell by 13.8%, the fifth consecutive drop, to be the lowest result recorded since June 2012".
"The more volatile, private sector dwellings excluding houses series, fell 40.8%, following a 41.9% rise in December".
Across Australia, total dwelling approvals decreased in New South Wales (-49.0%), Victoria (-38.6%), Tasmania (-31.7%), Western Australia (-7.9%), and South Australia (-6.5%).
Only Queensland recorded an increase (+25.6%), driven by apartment developments approved in January.