FX.co ★ Australia Building Permits Tumble in March

In March 2025, the seasonally adjusted number of dwelling approvals in Australia experienced a significant decline of 8.8% compared to the previous month, reaching a six-month low of 15,220 units. This drop significantly exceeded market expectations, which had anticipated a modest decline of 0.6%, and followed a slightly revised decrease of 0.2% in the previous month. This marks the second consecutive month of decline and represents the most substantial decrease since June 2023. The downturn was largely attributed to reductions in approvals for both private sector houses, which fell by 4.5% compared to a 1.1% decline in February, and private sector dwellings excluding houses, which plummeted by 15.1% versus a 1.3% decrease previously. Regionally, there were notable decreases in approvals in Victoria (-31.6%), South Australia (-11.9%), Western Australia (-20.5%), and Tasmania (-42.2%). Conversely, approvals increased in New South Wales by 19.6% and in Queensland by 5.8%.