Dwelling approvals get second wind

Tuesday 3 May 2016

The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of March. At the national level, the number of dwelling approvals rose by a seasonally adjusted 3.7% to 19,371. The rise was broad based with the volatile unit and apartment segment jumping by 6.7% whereas the more stable house segment rose by 2.6%.

In the year to March 2016, dwelling approvals fell by a seasonally-adjusted 6.5%, driven mostly by falling unit approvals (-11.5%), although detached houses (-0.2%) also fell slightly:

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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.