The total number of dwellings approved in January have fallen 28% (seasonally adjusted) after a 15% increase in December, according to data released today by the Australian Bureau of Statistics (ABS).
Approvals for private sector houses also fell, down 14%, the fifth consecutive drop, to be the lowest result recorded since June 2012.
The value of total building approvals fell 18.6%, following a 1% increase in December. The value of total residential building approvals fell 14%, comprised of a 15% decrease in new residential building, and a 4% fall in alterations and additions.
The value of non-residential building approved decreased 26%, following a 1.6% fall in December.