House building approvals continue to rise in August

The number of building approvals rose again in August, jumping 0.6 per cent from the previous month, according to the latest building industry snapshot from the Australian Bureau of Statistics.

The reading was strong enough to lift the total number of dwelling units approved by 0.1 per cent across the country, led by the Australian Capital Territory, where dwelling approvals rose by 2.3 per cent. The Northern Territory and Western Australia saw the next highest approval levels each with 1.3 per cent growth, while New South Wales came in third at 1.1 per cent.

August also marked the ninth month in a row that approvals for private sector houses grew. Private sector house approvals rose the most in Western Australia, where growth was observed at 2.2 per cent.

The only state that did not register a rise in private sector house building approvals was Victoria, where they were down 0.9 per cent compared to the previous month. August also marked the third consecutive month of approval declines in the state.

The higher building activity is good news for tradies, who will likely find new jobs as demand for their services picks up.