Australia Private House Approvals

AUD
Actual
-13.8%
Forecast
-13.8%
Previous
-2.1%
Latest Release
Mar 09, 2023
Importance
Overview
Construction industry provides information on construction output and activity. Such information gives an insight into the supply on the housing and construction market. Rising number of new construction starts or value of construction completed reflects higher consumer and business optimism. Expanding construction indicates growth in the housing market and predicts an increase in the overall economy. However, an excessive supply of new buildings may result in a drop in housing prices. The construction industry is one of the first to go into a recession when the economy declines but also to recover as conditions improve.Statistics of building work approved are compiled from: permits issued by local government authorities; contracts let or day labour work authorised by Commonwealth, State, semi-government and local government authorities; major building activity in areas not subject to normal administrative approval e.g. building on remote mine sites.
Historical Data
Release Date
Time
Actual
Forecast
Previous
Mar 09, 2023 06:00 -13.8% -13.8%
-2.1%
Mar 02, 2023 (Jan) 06:00 -13.8% -
-2.0%
Feb 09, 2023 06:00 -2.3% -
-2.5%
Feb 02, 2023 (Dec) 06:00 -2.3% -
-2.5%
Jan 16, 2023 06:00 -2.5% -
-1.1%
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