Dwelling completions fall

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By Leith van Onselen

The ABS has just released dwelling completions data for the December quarter, which registered a -3.2% decrease in the total number of dwellings completed over the quarter, with detached house construction falling by -1.4% and unit & apartment construction falling by -6.1% (see next chart).

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At the state level, falls were driven by Victoria (-8.7%), Western Australia (-14.5%), South Australia (-11.2%), and Queensland (-2.7%). By contrast, New South Wales experienced a pick-up in dwelling completions (+15.4%):

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Clearly, more work is required if the RBA is to achieve its goal of housing construction filling the void left as the mining boom unwinds.

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Unconventional Economist

Leith van Onselen is Chief Economist at the MB Fund and MB Super. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.


    • I’d have thought it’s too soon for the NSW new build incentives to have resulted in a big pickup in dwelling completions. Units are usually multi-year projects.

  1. Thank goodness dwelling completions are falling, there’s already a housing glut in Australia (approx. 350k dwellings for sale according to SQM).

    • You are kidding.. there was a “shortage” of 200K dwelling until last year.. remember that 200k that was pulled out of their a**es

  2. I would imagine NSW is mostly apartments/units.

    There are a lot of new high-rises that have been completed in Sydney around the Green Square, Mascot, etc.