The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
LESS THAN 30 DAYS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
4 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
SECURE YOUR SPOTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
ConstructionStaff WriterMon 20 Feb 17

HIA Look To Building Approval Past To Determine Future

iStock-474592866_620x380

After tracking the latest data from the Australian Bureau of Statistics, HIA Economics released an updated analysis of building approvals by region and type in order to investigate the implications for new home construction in 2017.

Their research unveiled the following key findings:

  • ABS Building Approvals for Australia peaked back in October 2015. As we have frequently highlighted, approvals have subsequently held up at what are extremely high levels by historical standards.

  • Cyclical decline in building approvals has been modest to date. Total seasonally adjusted building approvals were only 3.8 per cent lower in 2016 than in 2015.

  • While building approvals peaked in late-2015, total building approvals could still be over 200,000 in 2017.

  • Three out of eight states and territories recorded increases in total building approvals in 2016: the Australian Capital Territory; South Australia; and New South Wales.

  • As the down cycle in building approvals intensifies, ‘High density’ dwellings are expected to carry the burden of the deceleration. Detached and semi-detached dwellings are likely to fare better in a relative sense.

  • Approvals for semi-detached, row or terrace houses/townhouses performed strongly in 2016, with the Australian Capital Territory, Queensland and Victoria being key markets for this form of housing. This is a segment of the new home building market to keep an eye on in 2017.

  • The proportion of detached house approvals compared to multi-unit approvals was 51.2 per cent in 2016, a slight reversal on the previous majority share held by multi-units.

  • Overall, we retain our long held outlook for continued healthy levels of new home construction in 2016/17, and to a lesser extent in calendar year 2017.

  • detached houses (-5.8 per cent)

  • semi-detached, row, terrace or townhouse homes (-10.1 per cent)

  • flats or units in 1 or 2 storey buildings (-21.9 per cent)

  • flats or units in 3 storey buildings (-25.8 per cent)

  • and flats or units in 4 or more storey buildings (-27.4 per cent)

"In the last calendar year, all categories except semi-detached, row or terrace dwellings posted a negative change. Building approvals in the ‘semi-detached’ category increased by 3.8 per cent in 2016."The remaining categories posted declines in 2016:

  • detached houses (-1.9 per cent)

  • flats or units in 1 or 2 storey buildings (-27.1 per cent)

  • flats or units in 3 storey buildings (-7.7 per cent)

  • and flats or units in 4 or more storey buildings (-7.5 per cent)

ResidentialAustraliaConstructionReal EstateConstructionSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Exclusive

Fortis Reveals Plans for Coveted Bowen Terrace Site

Taryn Paris
4 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
View All >
Deicorp Five Dock Mixed-Use Precinct
Residential

Deicorp’s $1.8bn Inner-West Sydney Precinct Greenlit

Vanessa Croll
Residential

Consolidated Reveals Next Riverfront Play in $64m Deal

Leon Della Bosca AND Taryn Paris
The City of Melbourne has opted to keep Greenline in the 2025-26 Budget.
Policy

Melbourne Budget Puts Paid to Greenline Future Fears

Marisa Wikramanayake
The Melbourne riverfront scheme has won funding for its next three stages—but the State must come to the party...
LATEST
Deicorp Five Dock Mixed-Use Precinct
Residential

Deicorp’s $1.8bn Inner-West Sydney Precinct Greenlit

Vanessa Croll
3 Min
Residential

Consolidated Reveals Next Riverfront Play in $64m Deal

Leon Della Bosca AND Taryn Paris
3 Min
The City of Melbourne has opted to keep Greenline in the 2025-26 Budget.
Policy

Melbourne Budget Puts Paid to Greenline Future Fears

Marisa Wikramanayake
4 Min
Old Canberra Brickworks Yarralumla
Development

Doma Ready to Begin 380-Home ACT Brickworks Scheme

Leon Della Bosca
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/his-look-past-determine-future