ABS building approvals June 2026: apartment approvals up 13%, Housing Accord shortfall widens

New dwelling approvals rose 7.2 per cent in June to 18,328, seasonally adjusted, according to Australian Bureau of Statistics data released on 30 July 2026 — ending three consecutive months of decline.

The gain was led by higher-density housing. Private sector dwellings excluding houses — a category covering apartments, townhouses and semi-detached homes — rose 17.8 per cent in June to 7,138, following an 11.0 per cent fall in May. In original terms, apartment approvals alone rose 69.9 per cent in the month to 4,888, which the ABS said was 21.9 per cent above the 12-month average.

Private sector house approvals rose a more modest 0.4 per cent to 10,631, the sixth consecutive month above 10,000 and 15.8 per cent higher than a year earlier. Queensland recorded the largest rise in house approvals (up 2.9 per cent) and South Australia the highest level since August 2021 (up 2.8 per cent), while Western Australia fell 5.4 per cent after a 9.0 per cent rise in May.

For the 2025-26 financial year, 205,249 dwellings were approved in original terms, a 9.2 per cent rise on the 187,944 approved in 2024-25 and the highest annual total since 2020-21. Within that, apartment approvals rose 13.2 per cent for the year, to 48,778 from 43,079. ABS head of construction statistics Daniel Rossi said the average approval value for a new house also continued to climb, reaching $517,430 for the financial year, up 5.0 per cent on $492,931 in 2024-25.

Non-residential building approvals fell 24.7 per cent in June to $8.26 billion, after a record high in May, pulling the total value of building approved down 5.5 per cent to $20.00 billion for the month.

Master Builders Australia, reacting to the same release, said the annual approvals total left the country 47,750 homes short of what is required to meet the National Housing Accord target of 253,000 a year. “The big message from today’s figures is that 47,750 fewer homes were built over the year compared with what we needed, and marks two consecutive years of Accord target shortfall,” said Shane Garrett, the association’s chief economist. Garrett said the Reserve Bank governor had recently acknowledged the housing market was weaker as a result of higher interest rates and recent government policy changes.

Master Builders Australia chief executive Denita Wawn said cost pressures were central to the shortfall, arguing that building a new home is now “almost 50 per cent more expensive than it was before the pandemic,” and citing a Productivity Commission estimate that regulatory costs add around $320,000 to the price of a new house. Wawn called for governments to address construction costs, lift productivity and address workforce shortages.

A surge in Australian buyers following the recent Federal Budget has driven NZ$37 million in luxury apartment sales in just the past month at Queenstown’s landmark Lakeview Te Taumata development, with investors increasingly looking across the Tasman for premium property opportunities.

Five residences worth a combined NZ$37 million have sold in the past four weeks alone, including four apartments at approximately NZ$8 million each and another at NZ$5 million. The buyers came from Brisbane, the Gold Coast and Victoria, underscoring growing demand from affluent Australians seeking to diversify their property holdings.

The latest sales have pushed total pre-sales at the project towards NZ$200 million ahead of construction commencing on the first stage of the NZ$2 billion-plus development, which is scheduled for completion in 2028.

Australian enquiries have increased by 50 per cent since the Federal Budget, while Australian purchasers now account for approximately 80 per cent of all recent sales, reflecting growing demand from investors reassessing their property portfolios.

The renewed momentum comes as Australian investors respond to changes announced in the recent Federal Budget and increasingly look to New Zealand’s luxury property market, attracted by its premium lifestyle offering and tax settings, including the absence of a broad-based capital gains tax in New Zealand.

Urban Activation Director of Sales Matt George said buyer behaviour had shifted noticeably in recent weeks.

“In the past month alone we’ve secured NZ$37 million in sales to Australian buyers These are sophisticated buyers who are actively looking to diversify their investments while securing exceptional lifestyle assets in internationally recognised destinations.

“Queenstown has always appealed to Australian buyers, but we’re seeing a new level of urgency. The combination of a tightly held luxury market, New Zealand’s tax settings and Queenstown’s global reputation is proving to be a compelling proposition.

“Approaching NZ$200 million in pre-sales before construction commences is a significant milestone. It demonstrates the depth of demand for premium product and provides tremendous confidence as we move into the construction phase.”

Construction of Stage One has commenced with CMP Construction appointed to deliver Building A, comprising a 77 room Alpine Lodge, together with Buildings B and C, delivering 94 luxury apartments. Completion is anticipated in 2028.

Current pricing includes:

Two-bedroom apartments from NZ$2 million
Dual-key residences (one-bedroom plus studio) from NZ$2.55 million
Three-bedroom apartments from NZ$6 million
Four-bedroom apartments from NZ$9 million
Six-bedroom penthouse from NZ$25.5 million

Designed around wellness, luxury hospitality and world-class alpine living, Lakeview Te Taumata will ultimately comprise luxury residences, internationally branded hotels, restaurants, retail, wellness facilities and public spaces, creating a vibrant extension of the Queenstown town centre.

The NZ$2 billion-plus masterplanned precinct is being delivered by Melbourne-based 94 Feet and is expected to become one of the Southern Hemisphere’s premier lifestyle destinations.