Dwelling approvals decreased in Victoria by 14.2%, in Queensland by 7% and in South Australia by 0.1%, the latest figures from the Australian Bureau of Statistics show. But they increased by 11% in Tasmania, by 3.2% in New South Wales and by 0.1% in Western Australia.
In seasonally adjusted terms, approvals for private sector houses fell 1.5% in October. Private sector house approvals rose in New South Wales by 5.5% but fell by 7.9% in South Australia, by 4.5% in Victoria, by 2.4% in Queensland and by 1.3% in Western Australia.
But there is hope that a cut in interest rates might help bring some tentative life to the sector, according to the Housing Industry Association (HIA), the voice of Australia