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The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of April. At the national level, the number of dwelling approvals rose by a seasonally adjusted 3.0% to 20,243. The overall rise was driven by the volatile unit and apartment segment, which jumped another 8.7%, more than offsetting a 2.3% fall in house approvals.
In the year to April 2016, dwelling approvals rose by a seasonally-adjusted 0.7%, with rising unit approvals (+13.0%) more than offsetting falling detached house approvals (-8.9%):
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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.
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