The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of June. At the national level, the number of dwelling approvals fell by a seasonally adjusted 5.0% to 15,659. The overall fall was broad-based, with the volatile unit and apartment segment falling by 10.5% and the more stable house approvals segment falling by 2.2%. The result disappointed analysts’ expectations, who had expected a flat result over the month.
In the year to June 2014, dwelling approvals rose by a seasonally-adjusted 16.0%, with house approvals up by 13.1% and unit approvals up by 23.2%:
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