Housing market: Building approvals - value of buildings
The value of building approvals demonstrates trends in the value of houses and of other building work over time.
The Australian Bureau of Statistics (ABS) publication Building Approvals, Australia reports the value of building approvals by type of building. A building is defined as a rigid, fixed and permanent structure which has a roof. The monthly publication presents details of building work approved including the construction of new buildings; alterations and additions to existing buildings; approved non-structural renovation and refurbishment work; and approved installation of integral building features. Construction activity not defined as buildings (e.g. roads, bridges, railways, earthworks, etc.) is excluded. Data on the value of building work approved are derived by aggregating the estimated ‘value of building work when completed’ as reported on building approval documents provided to local councils and other building approval authorities.
Building Approvals, Australia data are also used in the following dashboard menu options: Building approvals - dwellings approved, Building approvals - Local Government Area and Building approvals - new residential dwellings.
See ABS 8731.0 – Building Approvals, Australia (http://www.abs.gov.au/ausstats/[email protected]/mf/8731.0) for further information, including in-depth commentary and analysis, in particular the source data Quality Declaration. Source reference tables 30–38.