Building Plans Passed | National Summary February 2022

Approvals for private sector building construction fell by 22.5 percent y-y in February 2022 compared to the same month last year, but did show some improvement from January, up by 10 percent m-m. Approvals in February were weaker across all market segments compared to last year. Overall, approvals remain on a downward trajectory down 1 percent for the first two months, with the non-residential sector hard hit by a 27 percent y-y decline. Approvals for housing by comparison, improved and increased by 8.6 percent y-y.