Sydney drives dwelling approvals rebound

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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 rose by a seasonally adjusted 1.5% to 18,849. The overall rise was driven by the volatile unit & apartment market (+2.6%), whereas house approvals rose by 0.6%.

In the year to September 2017, dwelling approvals rose by a seasonally-adjusted 0.2%, with unit approvals down by 2.4% whereas detached house approvals rose by 2.1%:

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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.