The latest building approvals data from November shows construction of new private houses increased 6.1%.
According to the Australian Bureau of Statistics (ABS), private sector house approvals rose for the fifth consecutive month, and were at the highest-recorded level in 21 years.
New residential buildings increased 5.7% in value in November to more than $5.8 billion.
Private sector housing approvals rose in all states, with Queensland leading, up 17%.
Total dwellings approved overall rose 2.6% in November in seasonally-adjusted terms, while unit or apartment (private sector excluding houses) construction fell 3.9%.
Buying a home or looking to refinance? The table below features home loans with some of the lowest variable interest rates on the market for owner occupiers.

Smart Booster Home Loan
Product Features
- Discount variable for 1 year <=80% LVR
- No ongoing fees
- Unlimited redraw facility
Monthly repayments: $1,476
Advertised
Rate (p.a.)
1.99%
Comparison
Rate (p.a.)
2.47%
Product Features
- Discount variable for 1 year
- No ongoing fees
- Unlimited redraw facility
Base criteria of: a $400,000 loan amount, variable, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. If products listed have an LVR <80%, they will be clearly identified in the product name along with the specific LVR. The product and rate must be clearly published on the Product Provider’s web site. Monthly repayments were calculated based on the selected products’ advertised rates, applied to a $400,000 loan with a 30-year loan term.
The value of private sector housing built amounted to $3.83 billion in November, with 11,489 private houses built, for an average value of $333,432.
ABS director of construction statistics said aside from housing, dwelling construction is at a "subdued" level.
"Approvals for private houses have surged 40% since June. Federal and state housing stimulus measures and low interest rates have resulted in strong demand for detached dwellings," he said.
"Approvals for private houses rose 6.1% in November, while dwellings excluding houses remain at subdued levels, falling 3.9%," he said.
Alterations value increased 5.6% to $855.4 million in original terms in November.
The total number of alterations and additions approved amounted to 10,328, for an average value of $82,821- under the $150,000 HomeBuilder renovation threshold.
This represents a slight fall from October's average renovation value of $82,922.
HomeBuilder has coincided with an uptick in overall renovation activity, with figures trending upwards from lows of less than $700 million in April.
However, prior to the HomeBuilder policy being announced in June, in May 2020, average alteration value was $85,427 - higher than it was in November, albeit at much lower volumes (7,900 alterations approved in May).
Roughly 16% of renovations, according to ABS figures, fell within the HomeBuilder thresholds, for a total value of just under $440 million out of a total $855 million.
Housing Industry Association (HIA) economist Angela Lillicrap pointed to a promising 2021.
"HIA new home sales data suggests that detached house building approvals will continue to be strong over the coming months," she said.
"The extension of HomeBuilder at the end of November is not a factor in this month’s result but will see the strength in detached house approvals extend into 2021."
Photo by R ARCHITECTURE on Unsplash