ABS figures cited by news.com.au show dwelling commencements up 7 percent in the June quarter and 14.4 percent on the year, while August approvals fell from a five-year high.
Construction began on more than 52,200 new homes in the June quarter, up 7 percent on the quarter and 14.4 percent on the year, news.com.au reported from Australian Bureau of Statistics figures released on Wednesday. Private-sector freestanding houses accounted for 31,707 starts, up 11.6 percent on the quarter and 20.7 percent on the year.
Completions of medium- and high-density homes rose 13.9 percent in the quarter. Completions of all homes were up 5.8 percent on the quarter and 15.9 percent on the year. Homes under construction have been rising since December 2024, the report said.
August approvals moved the other way. Total dwelling approvals were 6.1 percent below July's five-year high. Apartment, unit and townhouse approvals fell 21 percent in August and were 2.1 percent lower than a year earlier.
Treasurer Jim Chalmers linked the rise in starts to federal rules that limited negative gearing to newly built investment properties, news.com.au reported. The paper did not quote an ABS methodological note beyond the published changes.
The commencements are a quarterly pipeline figure. They do not by themselves show whether Australia is meeting its housing target.
People Sentiments Mixed
- Jim Chalmers linked the rise in starts to limits on negative gearing for existing investment properties.