Building approvals fall as high rise apartment development languishes

Building approvals fell 6.1 percent in August after a rise of 11 percent in July, mostly driven by the apartment sector, new data from the Australian Bureau of Statistics has revealed. Figures released yesterday show the number of total dwellings approved in the last month of winter was 13,991, with the biggest decline in NSW and South Australia, both at -11.5 percent, seasonally adjusted. However, approvals for private dwellings excluding houses — townhouses and apartments — saw a 16.5 percent drop on the same time last year.

The fall has been attributed to the drop in approval for high density apartments blocks more than nine storeys high. Figures show there were 1,214 apartments approved in August 2024 compared with 2,504 in July.

Property Council of Australia Group Executive Policy and Advocacy Matthew Kandelaars said the numbers were disappointing.

“We need to increase the number of homes approved and ensure a strong pipeline of apartment supply, to drive towards our housing targets at scale,” Mr Kandelaars said.

“But the reality is that it has never been more difficult and costly to get apartments out of the ground.”

He said ‘apartment-killer’ taxes and planning systems had had a negative effect on housing supply at a time when the country is struggling to deal with a housing crisis.

“Over the past year, we approved nearly 9,000 fewer apartments and townhouses across the country than in the preceding 12-month period,” he said.

“We need that number to increase month on month to build the homes Australians need.”

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Building approvals fall as high rise apartment development languishes

The latest figures from the Australian Bureau of Statistics show little headway being made in the Federal Government’s push to create more housing

Atlas Real Estate is reimagining how people connect with property, combining listings, market insights, local stories and lifestyle content in one destination for those buying, selling or simply exploring the market.