The Australian Bureau of Statistics (ABS) yesterday released dwelling approvals data for the month of November. At the national level, the number of dwelling approvals surged by a seasonally adjusted 11.7% to 21,055. The overall rise was driven by the volatile units & apartments segment (+30.6%), whereas house approvals fell by 2.0%.
In the year to November 2017, dwelling approvals rose by a seasonally-adjusted 17.1%, with unit approvals up by 36.86% whereas detached house approvals rose by 2.2%:
