Originally published In Daily LEANNE NICHOLSON | 1 OCTOBER 2015
HOUSING | South Australia’s building industry has had a resurgence after building approvals jumped almost 30 per cent in August, the highest increase of any Australian state.
Seasonally adjusted, SA building approvals climbed from a fall of -11.7 per cent in July to 27.9 per cent increase in August.
Latest Australian Bureau of Statistics figures showed building activity in SA was bucking a falling national trend.
Last month SA recorded $349.5m of residential building works, bringing the total value of works for the year to more than $2.9 billion.
SA recorded 990 approvals (seasonally adjusted) with 667 houses, 671 other dwellings and 10 other buildings approved during August.
The Australian Capital Territory was the only region to record more dwelling approvals (8.1 per cent) for August.South Australia has bucked a falling national construction trend after posting a 4.5 per cent increase in housing approvals during August.
Treasurer Tom Koutsantonis told InDaily the news would be well received by the SA building industry.
“While the numbers can be volatile, improved results like this are welcome, in particular for an industry that is facing challenges,” he said.
“It is also pleasing to see that during August, the value of non-residential building approvals rose by 4.3 per cent in South Australia, to be 46 per cent higher than a year earlier.”
ABS national building approval figures recorded a 0.7 per cent drop, the fifth consecutive monthly trend fall.
Dwelling approvals decreased in August in Tasmania (6.8 per cent), Victoria (4.2 per cent), Western Australia (1.8 per cent), Northern Territory (0.6 per cent) and Queensland (0.2 per cent) but increased in the ACT (8.1 per cent), South Australia (4.5 per cent) and New South Wales (1.4 per cent) in trend terms.
SA continued its upward trend and recorded a 0.2 per cent increase in private sector house approvals.
Nationally private sector housing approvals fell 0.1 per cent in August and in WA (2.8 per cent).
Private sector house approvals rose in Queensland (2 per cent), NSW (0.4 per cent) and South Australia (0.2 per cent).
Private house approvals were flat in Victoria, in trend terms.