The total number of housing approvals remained high in May, with the single-family home segment still strong thanks to the HomeBuilder program, according to the Australian Bureau of Statistics and the Housing Industry Association (HIA).
In the three months to May, single-family housing permits increased by 9.1%. On an annual basis, approvals for the segment increased by 63.1%. Other segments also showed an increase, with renovation approvals increasing 51.7% per year while multi-family housing approvals increasing 36%.
Angela Lillicrap, economist at HIA, said individual housing approvals are expected to remain high for several more months as approval authorities work on the remaining HomeBuilder projects.
"The April announcement of the extension of the construction deadline for HomeBuilder projects from six months to 18 months will see detached approvals increased for longer. Builders no longer rush projects through the construction process. Approval, as this eases the pressure to meet deadlines., She said.
Western Australia saw the largest increase in single-family housing approvals at 148%, followed by South Australia 83.3%, Queensland 69.9%, Victoria 48, 9% and New South Wales 35.9%.
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