The seasonally adjusted number of total dwellings approved in Australia declined 7.2% mom to a 19-month low of 14,564 units in January 2026, missing market expectations of a 5.5% growth, flash data showed. The latest result followed a 14.9% slump in the previous month, with approvals for private sector dwellings excluding houses remaining weak (-24.5% vs -30.7% in December). At the same time, permits for private sector houses continued to grow (1.1% vs 1.2%). Regionally, building permits fell in New South Wales (-5.1%), Victoria (-11.0%), Queensland (-6.0%), and South Australia (-9.3%). In contrast, Western Australia (13.7%) and Tasmania (14.1%) posted notable gains. On an annual basis, dwelling approvals tumbled 15.7%, reversing a 1.1% rise in December.