Apartments drive dwelling approvals fall

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By Leith van Onselen

The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of September. At the national level, the number of dwelling approvals fell by a seasonally adjusted 8.7% to 18,945. The overall fall was driven by the volatile unit and apartment segment, which fell by 16.3% and more than offset a 2.3% rise in house approvals.

In the year to September 2016, dwelling approvals fell by a seasonally-adjusted 6.4%, with unit approvals down by 9.9% and detached house approvals down by 1.8%:

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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.