CONSTRUCTION

BUILDING APPROVALS

The number of building approvals (trend) in Western Australia has fallen for twenty three consecutive months, from 1,875 approvals in February 2006 to 1,424 approvals in January 2008 - down 24.1% or 451 approvals. In the three months to January 2008, there were 4,312 houses approved for construction, 2.0% (89) less in the previous three months. The rate of decline remained the same as the rate recorded for the three months to October 2007 (down 2.0% or 91). In contrast, other residential dwelling approvals grew 7.2% (103) to 1,524 approvals in the three months to January 2008 - other dwellings comprise semi-detached houses, townhouses and flats, units and apartments.

In the three months to January 2008, the number of new house approvals (original) in Western Australia fell by 9.1% or 413 approvals, from the previous three month period. This decline coincided with a 1.3% ($14 million) fall in the total value of new house approvals, down to $1,123 million. The total number of building approvals also declined from 5,918 approvals in the three months to October 2007 to 5,612 approvals in the three months to January 2008 (down 5.2% or 306 approvals). In contrast, the value of total building approvals increased by 38.0% ($938 million) to $3,411 million and the value of new residential buildings also rose, by 13.2% ($194 million) to $1,666 million in the three month period to January 2008 (compared to the previous period).