The Australian Bureau of Statistics (ABS) yesterday released dwelling approvals data for the month of October. At the national level, the number of dwelling approvals rose by a seasonally adjusted 0.9% to 19,074. The overall rise was driven by the detached house market (+1.5%), whereas apartment approvals fell by 0.6%.
In the year to October 2017, dwelling approvals rose by a seasonally-adjusted 18.4%, with unit approvals up by 36.6% whereas detached house approvals rose by 6.2%: