Dwelling approvals tank in October

Wednesday 30 November 2016

The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of October. At the national level, the number of dwelling approvals fell by a seasonally adjusted 12.6% to 16,279. The overall fall was driven by the volatile unit and apartment segment, which fell by 24.8%, although house approvals also fell by 3.4%.

In the year to October 2016, dwelling approvals fell by a seasonally-adjusted 24.9%, with unit approvals down by 42.6% and detached house approvals down by 5.7%:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.