New figures from the Australian Bureau of Statistics for building approvals showed that the total number of dwellings approved fell 4.2 per cent in November 2010, in seasonally adjusted terms, after rising 8.3 per cent in October.
According to the ABS, Victoria (3.1 per cent), Queensland (3.3 per cent) and Western Australia (7.1 per cent) recorded more dwelling approvals this month while New South Wales (-13.4 per cent) and South Australia (-2.7 per cent) recorded fewer dwelling approvals in seasonally adjusted terms.
Private sector houses approved fell 1.7 per cent with falls in New South Wales (-4.9 per cent) and Victoria (-2.8 per cent) while Queensland (4.1 per cent) and Western Australia (0.9 per cent) rose. South Australia remained steady.
The value of total buildings approved fell 3.5 per cent in November in seasonally adjusted terms. The value of total residential building fell by 5.9 per cent while non-residential building rose by 1.4 per cent.
Housing Industry Association senior economist, Andrew Harvey, said: "The November figures suggest that the October uptick in building approvals was a blip on an otherwise downwards trajectory.”
"It's unfortunate to begin the New Year with disappointing building approvals data which point to subdued housing starts in the first quarter of 2011.
"The real concern is that the November figures would not have felt the full impact of the November interest rate hikes by the RBA and the banks, so it's hard to see Australia's residential building activity improving anytime soon.
