FX.co ★ Australia Confirms Steeper Decline in Building Permits

Australia's seasonally adjusted dwelling approvals fell by 1.1% month-on-month to a four-month low of 17,019 units in May 2026, following a 0.2% decline in April and matching preliminary estimates. The overall weakness was largely attributable to a steep 10.4% fall in approvals for private sector dwellings excluding houses, reversing a 4.0% increase in the previous month. In contrast, approvals for private sector houses rose 2.8%, offsetting April's 0.4% decline.

State by state, approvals declined in Victoria (-3.0%), Queensland (-8.8%), and Western Australia (-1.3%), while they increased in New South Wales (2.2%), South Australia (10.9%), and Tasmania (4.8%).

On an annual basis, total dwelling approvals were up 5.3% in May, though this represented a sharp moderation from the 10.9% year-on-year surge recorded in April.