Actual dwelling construction catches up with approvals

Wednesday 15 October 2014

The ABS has released dwelling construction data for the June quarter, which registered a solid pick-up in overall construction activity despite divergence between dwelling commencements and completions.

According to the ABS, the number of dwelling commencements fell by a seasonally-adjusted 6.9% in the June quarter but were up by 9.2% over the year. Detached house commencements fell by 1.1% over the quarter but were up 15.2% over the year, whereas unit commencements fell by 15.0% over the quarter but were up by 0.5% over the year (see next chart).

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.