Building Approvals April 2017

South Australian building approvals – a forward indicator of building activity – have cooled over recent months, according to data released by the Australian Bureau of Statistics today. The trend estimate of the value of total building approved in South Australia fell by 3.6 per cent in April and has fallen for three months. In comparison, the value of total building approved at the national level rose by 2.5 per cent in April, its third consecutive monthly rise. Despite the recent decline in total building approved for South Australia, the overall level of approvals remains a little above its past decade average level.

There have been some divergent patterns within the building sector. The trend estimate of the value of non-residential building approved fell by 10 per cent in April, continuing a downward trend that emerged at the start of the year. In contrast, the value of residential building approved rose by 0.9 per cent in April and has risen for seven months now. A similar pattern is evident for dwelling unit approvals which have been on an upward trajectory since late 2016. The total number of dwelling units approved rose by 1.6 per cent in April.

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