With last week’s release of dwelling approvals data for the September quarter, it’s once again time to examine how Australia’s dwelling supply is tracking against population growth.
The below charts track the following, which are based on the latest available quarterly data:
- Dwelling approvals to September 2019;
- Dwelling commencements to June 2019;
- Dwelling completions to June 2019; and
- Population change to March 2019.
First, the national picture shows that dwelling approvals are crashing hard with commencements following behind. Completions have also just peaked, whereas population growth was strong at 388,800 in the year to March 2019:
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