Building approvals a mixed bag

The Australian Bureau of Statistics (ABS) has released their May figures for building approvals around the country.

Overall, a mixed bag of results has left industry players both hopeful and wary at once.

Seasonally adjusted, the total number of dwelling approvals fell by 1.1 per cent during the month, while private sector homes saw approvals rise by 2.5 per cent and 'other' properties such as units and apartments fell by 9.8 per cent.

In trend terms, that's a sixth consecutive month of rises in approvals in the private sector.

Master Builders Australia (MBA) was positive in highlighting the fact that approvals are now up 9.9 per cent in the five months to May from the corresponding period a year ago, but are still concerned for those working in the industry.

"The improvement in the indicators is a bittersweet pill for builders, because they really are struggling," explained Peter Jones, Master Builders Australia's chief economist.

"The real concern for builders is there has been no real tangible improvement for builders on the ground, which was revealed in Master Builders' June quarter National Survey of Building and Construction."