FX.co ★ Australia Building Permits Rise Less than Expected

The seasonally adjusted number of total dwellings approved in Australia rose by 3.2% in May 2025 compared to the previous month, reaching 15,212 units. This increase fell short of market expectations, which had predicted a 4.8% rise. The previous month saw a downwardly revised decline of 4.1%, according to preliminary estimates. The primary driver of this recovery was the significant rebound in approvals for private sector dwellings excluding houses, which surged by 11.3% following a steep 19% decline in April. Meanwhile, the growth rate for approvals of private sector houses slowed to 0.5%, down from a 5.9% increase in April. Regionally, approvals grew in Victoria and New South Wales, with increases of 14.0% and 11.0%, respectively. In contrast, approvals dropped in Queensland by 6.7%, in Tasmania by 8.8%, in Western Australia by 7.5%, and in South Australia by 6.2%.