Melbourne high-rise approvals form double top

Tuesday 3 July 2018

Yesterday’s dwelling approvals data for May from the ABS reported a 2.8% monthly trend decline in unit & apartment approvals, with approvals clearly trending down:

At the capital city level, which is presented in rolling annual terms since it isn’t seasonally adjusted, Melbourne’s dwelling approvals have hit an all-time high, whereas Sydney’s continue to fall from its recent peak and Brisbane and Perth are well down from peak:

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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.