The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of February. At the national level, the number of dwelling approvals rebounded by a seasonally adjusted 19.1% to 17,074. The overall rise in approvals was driven by the volatile unit & apartment segment (+64.6%), whereas detached house approvals (-3.6%) fell.
However, in the year to February 2019, dwelling approvals fell by a seasonally-adjusted 12.5%, with house approvals down 13.8% and unit approvals down by 9.1%:
