NSW Building Approvals for August 2021

In August, there was a slight uptick in the number of approvals for houses in NSW, reversing the dip in July.

Ex-houses approvals continued to fall. Despite the high and rising prices, the apartment building boom doesn't appear to be returning. This is particularly interesting in light of the apparently imminent prudential controls that have saturated the media this week - after comments from the treasurer and the Council of Financial Regulators.

With the borders likely gradually reopening over the next few months, the balance between new apartments coming online and population growth are going to be interesting to watch.

The six month average for ex-houses approvals is set to start dropping next month, unless September figures reverse the recent trend in a dramatic way. April's high of 3.6k approvals is going to be leaving the six month window, with recent months dragging the number lower.

About This Image These charts are based on data from the Australian Bureau of Statistics Building Approvals release. Seasonally adjusted values are used.