The total number of dwelling approvals in South Australia lifted by 10% over the month of November to 1,226 – the highest increase on the mainland, with decreases experienced in every other mainland state, latest ABS data showed.
South Australia also saw a 15.2% increase in dwelling approvals over the year to November, while all mainland states saw significant declines led by Western Australia (-33.8%), Queensland (-25.5%), and Victoria (-17.4%), with dwelling approvals down 15.1% nationally.
“These latest figures show South Australia’s housing market remains strong, especially compared to the eastern states, with housing prices remaining at current high levels and demand for new housing up,” said Stephen Mullighan, premier of South Australia. “South Australia’s housing market hasn’t experienced the volatility of the eastern states, and that’s good news for property owners. While the strength of the property market is positive for those already owning houses, we know we need more supply to help others get into homeownership.”
The ABS data follows CoreLogic statistics for December, which showed house prices remained steady in Adelaide, only dipping 0.4% that month, while larger drops were recorded in other capital cities.
Adelaide also posted a 10.1% median house price increase – the highest of all the capital cities over the year.
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