Building approvals are recovering from the economic plunge caused by the coronavirus pandemic with dwelling numbers bouncing back from June’s eight-year low.
Latest figures from the Australian Bureau of Statistics shows dwelling numbers rose 12 per cent in July compared with the previous month.
ABS director of construction statistics Daniel Rossi said conditions were improvng in July following the onset of the pandemic.
“The July results likely reflect improved consumer sentiment in May on the back of falling COVID-19 cases and easing of restrictions,” he said.
However, the value of total buildings approved fell 3.9 per cent over the month, and non-residential building total value fell 19.8 per cent – its lowest level since January 2018.
Private sector dwellings excluding new houses rose 22.7 per cent, while private sector residential had its strongest month since January 2014, rising 8.5 per cent.
Tasmania made the strongest gains with dwelling numbers rising 50 per cent, while New South Wales rose 32 per cent.
Victoria’s approvals increased 9.3 per cent, and Queensland’s rose 7.7 per cent.
South Australia and Western Australia both recorded decreases, falling 10.5 per cent and 8.3 per cent respectively.