Dwelling approvals continue rebound

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By Leith van Onselen

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%:

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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.