The Australian Bureau of Statistics (ABS) yesterday released dwelling approvals data for the month of August. At the national level, the number of dwelling approvals rose by a seasonally adjusted 0.4% to 18,514. The overall rise was driven by the volatile unit & apartment market (+4.8%), whereas house approvals fell by 0.6%.
In the year to August 2017, dwelling approvals fell by a seasonally-adjusted 15.5%, with unit approvals down by 29.2% whereas detached house approvals rose by 3.1%: