2023.02.0823:45:00UTC+00Australia Building Permits Jump 18.5% In December

The total number of building permits issued in Australia was up a seasonally adjusted 18.5 percent on month in in December, the Australian Bureau of Statistics said on Thursday - coming in at 16,556.

That was in line with expectations following the 8.8 percent drop in November.

Permits for private sector houses fell 2.3 percent to 8,903, while permits for private sector dwellings excluding houses skyrocketed 56.6 percent to 7,091.

On a yearly basis, private sector house permits sank 11.7 percent and private sector permits excluding houses rose 2.9 percent, so overall permits lost 3.8 percent.

By state, the number of dwellings rose in New South Wales (48.4 percent), Victoria (20.7 percent), Queensland (8.3 percent), and Western Australia (6.4 percent). Tasmania (-49.7 percent) and South Australia (-24.6 percent) recorded decreases.