Building approvals still terrible

David Llewellyn-Smith

Monday 3 July 2023

ABS with the release.

The May 2023 seasonally adjusted estimate:

Total dwellings approved rose 20.6%.
Private sector houses rose 0.9%, while private sector dwellings excluding houses rose 59.4%.
The value of non-residential buildings rose 6.6%, while value of new residential building rose 17.1%.
The value of total building rose 11.1%.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.