Building approvals have rebounded after recently dropping to a decade low, but lending for housing continues to fall.
Overall dwelling approvals rose 28.1 per cent to 17,497 through August after an 18.2 per drop in July, the Australian Bureau of Statistics said on Tuesday.
Building approvals in July were at the lowest level since January 2012.
"Approvals for private sector dwellings excluding houses rose 99.1 per cent in August, with a sharp bounce back in apartment approvals driving the result," ABS head of construction statistics Daniel Rossi said.
"Approvals for private sector houses rose 4.1 per cent in August, following a 0.8 per cent increase in July."
NSW led the growth in dwelling approvals with a 70.6 per cent rise, followed by a 19.4 per cent increase in Victoria and a 13.6 per cent rise in WA.
The value of total buildings approved rose 23.5 per cent in August following a 14.8 per cent decrease in July.
Separately, the ABS announced that the value of new home commitments for housing fell 3.4 per cent to $27.4 billion in August after an 8.5 per cent drop in July.
"Although lending continued to fall from the high levels of June 2022, the value of loan commitments in August remained elevated compared to pre-pandemic levels," ABS head of finance and wealth Katherine Keenan said.
"Owner-occupier loans in August were 36 per cent higher than February 2020, while investor loans were 70 per cent higher."
