Date Time
Dwelling approvals decline in May: Australia
The number of dwellings approved fell 7.1 per cent in May (seasonally adjusted), following a 5.7 per cent decline in April, according to data released today by the Australian Bureau of Statistics (ABS).
Daniel Rossi, ABS Director of Construction Statistics, said: “The fall in the total number of dwellings approved in May was driven by a 10.3 per cent fall in private sector houses.
“Although we saw a decline in private sector house approvals in May, this came off the back of the record high in April. Private house approvals remain at elevated levels and are 55 per cent higher than May 2020 and 57 per cent higher than May 2019,” he said.
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Dwelling approvals boomed in March ahead of the scheduled end of the Morrison Government’s HomeBuilder subsidy.
Total approvals rocketed by 17.4% in March to be 47.4% higher over the year. The rise was driven by units & apartments, which surged 63.4% in March whereas house approvals only rose 0.1%.
However, houses led approvals over the year, lifting 60.9% versus a 27.4% rise across the unit & apartment market.
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Australian dwelling approvals have climbed on the back of HomeBuilder.
According to Daniel Rossi, Director of Construction Statistics at the ABS:
“The total number of dwellings approved in March was the second highest recorded, only exceeded by the November 2017 result”…
Date Time
Building approvals continue their record climb: Australia
The number of dwellings approved rose 17.4 per cent in March (seasonally adjusted), following a 20.1 per cent rise in February, according to data released today by the Australian Bureau of Statistics (ABS).
Daniel Rossi, Director of Construction Statistics at the ABS, said: “The total number of dwellings approved in March was the second highest recorded, only exceeded by the November 2017 result.”
Private sector dwellings excluding houses drove the increase, rising 63.6 per cent.
“The number of private sector house approvals also remained at elevated levels due to HomeBuilder, edging up 0.1 per cent to a new record high in March.”
May 5, 2021 - Written by John Cameron
GBP/AUD Exchange Rate Edges Higher on UK Economic Optimism
The Pound Australian Dollar (GBP/AUD) exchange rate rose today following the latest report from the UK’s Society of Motor Manufacturers and Traders (SMMT), which revealed that the nation’s car sales rallied in April. The pairing is currently fluctuating around AU$1.80.
Analysts at Reuters commented on the SMMT report:
‘Last month, customers were able to buy cars in person from April 12 in England whilst delivery, click and collect and online services also facilitated purchases. Plants have continued to operate with COVID safe measures in place.