The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of July. At the national level, the number of dwelling approvals rose by a seasonally adjusted 4.2% to 19,298. The overall jump was driven by the volatile unit and apartment segment, which rose by 6.1% in July. By comparison, the more stable house approvals segment fell by 3.0% over the month.
The result beat analysts’ expectations of a 3% rise in approvals over the month.