FX.co ★ Rebound in Australia Building Permits Confirmed

The seasonally adjusted number of total dwelling approvals in Australia surged 29.7% month-on-month to 19,022 units in February 2026, the highest level in nearly five years. This result confirmed the preliminary estimates and marked a sharp turnaround from the 7.2% decline recorded in January. It was also the first increase in approvals since November.

The upswing was driven largely by a strong rebound in approvals for private sector dwellings excluding houses, which jumped 101.2% after a 25.0% fall in January. In contrast, approvals for private sector houses were broadly flat, edging up just 0.2% following a 1.7% rise in the previous month.

Regionally, building approvals rose across most states, including New South Wales (10.1%), Victoria (85.1%), Queensland (14.7%), South Australia (12.3%), and Western Australia (3.1%). Tasmania was the main exception, with approvals falling 27.7%.

On an annual basis, total dwelling approvals increased 14.0% in February, reversing the 1.5% year-on-year decline seen in January.