Australian dwelling commencements take a dive

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By Leith van Onselen

The ABS has released dwelling construction data for the June quarter, which recorded a sharp fall in commencements but an increase in completions.

According to the ABS, the number of dwelling commencements fell by a seasonally-adjusted 5.9% over the June quarter but were up by 4.5% over the year. Detached house commencements fell by 3.8% over the quarter but rose by 3.4% over the year, whereas unit commencements fell by 7.5% over the quarter but rose by 6.8% over the year:

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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.