New housing approvals jumped 43.5% in seasonally adjusted terms in February, fuelled by a rise in apartment approvals in New South Wales and Victoria, according to the Australian Bureau of Statistics (ABS). 

There were 18,675 total dwellings approved across the country in February, made up of 10,240 houses and 7,183 units.  

The steep rise in approvals follows the 27.9% fall in housing approvals in January, driven by a steep decline in unit approvals. 

“The large rise in the total number of dwellings approved in February was recorded across all dwelling types,” ABS Director of Construction Statistics Daniel Rossi said. 

“Private sector dwellings excluding houses, rose 78.3 per cent, following a 43.3 per cent fall in January.  

“The rise in February was driven by a large increase in apartment approvals in New South Wales and Victoria.

“Private house approvals also rose in February (16.5 per cent), following a 16.3 per cent decline in January.” 

Total housing approvals rose 91% in Victoria, followed by a 48.8% increase in NSW and a 35.9% rise in South Australia.  

Tasmania and Western Australia dwelling approvals grew 12.2% and 8%, respectively.  

Queensland dwelling approvals fell 14.6%, however it was also the only state to record a rise in January. 

House approvals rose 27.2% in NSW, 20.1% in Victoria, 11.5% in WA, 7.6% in SA and 7.6% in QLD. 

The value of total building approved rose 67.5% in February, while the value of non-residential building increased sharply by 132%.  

The ABS said the February result was the second-highest recorded behind March 2021 and was driven by a large number of public developments, with 14 projects valued over $30m approved.