Australia’s housing construction bust draws nearer

Monday 6 May 2019

On Friday, the ABS released dwelling approvals data for March, which revealed that overall dwelling approvals have crashed 27% since their May 2016 peak, with house approvals down 15% from peak and apartment approvals down 42% from peak:

Moreover, approvals have crashed across all major markets, with NSW down 29% from peak, VIC down 34%, QLD down 49%, WA down 51% and SA down 37%:

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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.