ACT Building Approvals

ACT Building ApprovalsBuilding approvals in the Australian Capital Territory declined over the past 12 months according to data released yesterday from the ABS but remain bang on the average levels recorded over the past decade. The latest ABS Building Approvals data shows mixed results for the nations capital with only 3,897 new dwellings approved in seasonally adjusted terms for the 12 months to May 2015, a decline of 16.9 per cent from the 4,690 approvals for the 12 months to May 2014. Coming off an extremely strong previous month, May building approvals also decreased by 66.4 per cent on the April 2015 figure to record 286 approvals for the month. Year on year however the May 2015 results were up a significant 34.3 per cent on the approvals recorded for May 2014. “ACT Building Approvals are sitting right on 10 year average numbers, however the challenge is to see all of these actually built to ensure housing affordability improves across Canberra,” concluded the Property Council’s ACT Executive Director Catherine Carter. Media contact: Catherine Carter |M 0412 330 079|P 02 6248 6602