Building approvals still carrying the momentum of last year
New house approvals hit 11,040 in August, the highest level in five years and a 3.3% rise on the previous month, according to HIA data.
11,040 new house approvals in August 2024 – the highest level in five years, up 3.3% on the previous month.
Approvals for new houses increased in the month of August to a new high of 11,040, the highest level in five years - Tom Devitt, HIA Senior Economist
Are new house building approvals still rising in 2024?
Builders and related trades like plumbers, electricians, and carpenters may see stronger pipeline demand as new house approvals trend upward.
Key takeaways
- New house approvals reached 11,040 in August, the highest point in five years.
- Monthly growth of 3.3% signals continued momentum in residential construction.
- Tradies in building, plumbing, and electrical may benefit from a stronger project pipeline.
- HIA data suggests last year's approval gains are carrying into the current period.
Related
ACT housing approvals slump puts 2030 target under pressure
Building approvals in the ACT dropped by half in the three months to August compared to a year earlier. The slump raises serious doubts about whether the territory can meet its 2030 housing supply target.
Why it matters: Builders and related trades in the ACT face a shrinking project pipeline, meaning fewer contracts and less work ahead if approvals don't recover.
Modern Methods of Construction require skills evolution, not workforce replacement
BuildSkills Australia has released a report on Modern Methods of Construction (MMC), finding that new building technologies complement rather than replace traditional trade skills. The HIA has welcomed the findings.
Why it matters: Builders, carpenters, and other construction trades may need to upskill as MMC adoption grows, but their core skills remain relevant and in demand.
Tasmanian house approvals up 14 per cent
ABS data shows Tasmanian house approvals rose 14% in August 2026. No further breakdown by dwelling type or value was provided in the release.
Why it matters: Builders, plumbers, and electricians in Tasmania may see increased demand for new residential work as approvals lift.