Apartment Building Approvals Fall 40 Per Cent
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Apartment Building Approvals Fall 40 Per Cent

The lowest non-house building approval rate since January 2012.

By Terry Christodoulou
Wed, Mar 3, 2021Grey Clock < 1 min

Building approvals for apartments and townhouses were down 40 per cent at the end of January, according to data from the Australian Bureau of Statistics, signalling a significant slowing of the high-density sector.

The data indicated the lowest non-house building approval rate since January 2012, with the number of dwellings approved falling 19.4% in January. Private house dwelling approval rates were down 12 per cent.

“Despite the fall, private house approvals remain 38 per cent higher than in January 2020,” said Daniel Rossi, Director of Construction Statistics at the ABS.

“The surge in Homebuilder applications at the end of 2020, as well as the extension of the program to March, will continue to provide support for private house approvals in the coming months.”

Total dwelling approvals fell across all states in January; Queensland (33.3 per cent), Tasmania (24.8 per cent), New South Wales (23.2 per cent), Victoria (13.0 per cent), Western Australia (4.1 per cent) and South Australia (0.5 per cent).

Approvals for private sector houses also fell across all states in January; New South Wales (19.0 per cent), Queensland (19.0 per cent), Victoria (8.4 per cent), South Australia (3.7 per cent) and Western Australia (0.9 per cent).

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By Robyn Willis
Fri, Aug 19, 2022 < 1 min

Treechangers seeking a home and income should take note of this west coast property in picturesque Pickering Brook in the Perth Hills, which comes with its own live-in residents.

Known as ‘the Margaret River of the Hills’ the area boasts stunning bushland while being just 30 minutes from all the amenity Perth has to offer.

With eight bedrooms and 10 bathrooms, this property is a home and business, operating as a thriving day spa, Hidden Valley Eco Lodges and Day Spa.

The private main residence is made of rammed earth for thermal comfort and has three bedrooms, luxurious bathroom and a large open plan living area. A private jacuzzi on the spacious entertaining deck is the perfect spot for enjoying beautiful bushland views at the end of a long day.

For day spa guests, there are four deluxe spa treatment rooms serviced by qualified staff, a reception area and lounge plus a commercial kitchen. Overnight guests can choose from five lodges with fully equipped kitchen and heated jacuzzi. As a going concern with a consistently high annual turnover, it’s a unique opportunity for the right buyer.

Set over 5.46ha, the property is also home to a very special group of residents: a small herd of alpacas, which are included in the sale.

Price guide: $6.5 million

Inspection: By expression of interest

Agent: Susanne Broido, The Agency 0499 770 237