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%:
