Tasmania has bucked a national home approval slump to see an increase of over 30 per cent, new data from the Australian Bureau of Statistics shows.
The data, released on Wednesday, showed seasonally adjusted dwelling approvals in November 2018 last fell in all states but Tasmania – which experiencing a jump of 30.6 per cent.
ABS data also showed job vacancies in the state had increased by 16.7 per cent in the November 2018 quarter.
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Compared to the previous year, job vacancies in Tasmania are up 40 per cent, a growth rate second only to Western Australia.
Housing Minister Roger Jaensch said the government would continue to support growth in the building and construction industry, “because we understand it means more jobs and opportunities for Tasmanians”.
“The Australian Bureau of Statistics today confirmed that the extraordinary momentum in Tasmania’s building and construction sector is continuing.”
Housing approvals fell sharpest in Victoria with a drop of 14.6 per cent, followed by NSW and the ACT with 9.3 per cent and Western Australia with 7.3 per cent.
Diwa Hopkins, an economist with the Housing Industry Association, said the levels were the lowest since August 2013.
“We’ve long been anticipating the current downturn in new home building, but there is a risk it could develop more quickly and strongly than expected.”
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