As per the Australian Bureau of Statistics, seasonally adjusted total dwelling units approved increased by 2.5% to 14,395 as compared to the previous month. Under it, the private sector houses (such as townhouses and apartments) approval increased by 2.1% to 9,423, and private sector dwellings excluding houses approvals increased by 2.7% to 4,800.
On-trend estimates, total dwelling units approved decreased by 3.2% as compared to the previous month. Under it, private sector houses approval decreased by 0.4% and private sector dwellings excluding houses approval decreased by 8.1%. The value of the residential building has fallen for 12 months, and in the month of January only, it fell by 2.7%. Whereas the value of non-residential building has fallen for five months, and it fell by 0.4% in January.
On state trends, the trend estimates for the total number of dwelling units approved in January are as follows:
- New South Wales fell by 2.3%
- Victoria fell by 4.5%
- Queensland fell by 3.9%
- South Australia fell by 0.8%
- Western Australia rose by 2.2%
Whereas in seasonally adjusted terms, the total number of dwelling units approved for Western Australia rose by 28.8%, Tasmania rose by 15.4% and New South Wales by 12.0%.
As per total construction work is done, the seasonally adjusted estimate for building decreased by 1.7% in December quarter and amounting to $29,599.6 Mn, whereas engineering work decreased by 5% to $21,492.8 Mn. However, its trend estimates for building work decreased by 1.2% to $29,826.8 Mn, and engineering work decreased by 4% to $21,826.9 Mn.
As per Engineering construction activity, the seasonally adjusted estimate for the private sector decreased by 6.4% to $13,328.6 Mn in September quarter, and public sector decreased by 0.1% to $9789.8 Mn in September quarter. Its trend estimates for the private sector decreased by 2.5% to $13,632.9 Mn in September quarter, and the public sector increased by 1.7% to $9890.3 Mn in September quarter.
On the residential property price indices, prices at Sydney decreased by 1.9% q-o-q in September 2018, prices at Melbourne decreased by 2.6% q-o-q, prices at Brisbane increased by 0.6%, prices at Adelaide increased by 0.6%, prices at Perth decreased by 0.6%, prices at Hobart increased by 1.3%, prices at Darwin decreased by 0.9% and prices at Canberra increased by 0.5%.
The Australian Bureau of Statistics on Monday (March 4, 2019) also stated that company operating profits in Australia went up by a seasonally adjusted 0.8 % in the 4th quarter of 2018.
The total number of inventories decreased by 0.2% on quarter, missing forecasts for a gain of 0.3% following the 0.1% drop in Q3. On the purchasing power of people, wages and salaries went up by 0.8% on quarter and 4.1% on year.
The permits have been issued for all the compiled data by the concerned authorities, authorized by the state, semi-government, local government, and Commonwealth authorities.
The scope of the collection comprises additions to existing buildings, alterations, construction of new buildings, approved non-structural renovation and refurbishment work and approved installed integral building fixtures.
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