Housing starts continues to drop in Australia's Victoria
Victoria’s housing misery has continued despite improvements across the rest of Australia
The southern state, which has Melbourne as its capital, saw a 1.7 per cent fall in the trend value of dwelling approvals in August.
This was the 13th consecutive month of falling approval numbers in Victoria, which had offered the most work for housing architects through most of the downturn.
It cancelled out rises in the trend value – which discounts seasonal fluctuations and outliers – in all other states.
The Australian Capital Territory had the best month in August, with dwelling approvals up 2.3 per cent from the previous month.
Western Australia and the Northern Territory each saw 1.3 per cent hikes; New South Wales 1.1 per cent; South Australia 0.9 per cent; Tasmania 0.7 per cent; and Queensland 0.1 per cent.
But following Victoria’s plunging numbers, the trend for dwelling approvals across Australia grew just 0.1 per cent
The value of residential building rose 0.2 per cent, but the value of non-residential building fell 1.1 per cent.
This meant the value of total building approved fell 0.4 per cent – its third consecutive month of falls.
AJ reported last month that Victoria was also the only state in Australia to see a drop in dwelling approvals in July.