Apartments drive dwelling approvals rebound in June

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By Leith van Onselen

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 rose by a seasonally adjusted 10.9% to 18,453. The overall jump was driven by the volatile unit & apartment market (+20.0%), whereas house approvals rose more moderately (+3.4%).

In the year to June 2017, dwelling approvals fell by a seasonally-adjusted 2.3%, with unit approvals down by 6.6% whereas detached house approvals rose by 1.4%:

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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.