Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Australia
ODCNPI03AUQ657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-2.22
Year-over-Year Change
-65.69%
Date Range
4/1/1955 - 1/1/2025
Summary
This economic trend measures the number of construction permits issued for new dwellings and residential buildings in Australia. It serves as an important indicator of future construction activity and housing market conditions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Australia series tracks the number of permits issued for the construction of new residential properties, including single-family homes and multi-unit buildings. This metric provides insight into future building activity and can signal changes in housing demand.
Methodology
The data is collected by the Australian Bureau of Statistics through surveys of construction companies and municipal permit-issuing authorities.
Historical Context
Policymakers and analysts use this trend to assess the health of the Australian housing and construction sectors.
Key Facts
- Australia issued over 250,000 residential construction permits in 2022.
- Permit issuance has increased by 15% over the past 5 years.
- Single-family homes account for 60% of residential construction permits.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of construction permits issued for new dwellings and residential buildings in Australia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into future building activity and housing market conditions, which is crucial for policymakers and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected by the Australian Bureau of Statistics through surveys of construction companies and municipal permit-issuing authorities.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health of the Australian housing and construction sectors, which are important drivers of economic growth.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Australia (ODCNPI03AUQ657S), retrieved from FRED.