Dwelling approvals crash deepens in March

Friday 3 May 2019

The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of March. At the national level, the number of dwelling approvals tanked by a seasonally adjusted 15.5% to 14,429. The overall crash in approvals was driven by the volatile unit & apartment segment (+-30.6%), whereas detached house approvals (-3.2%) fell by less.

In the year to March 2019, dwelling approvals fell by a seasonally-adjusted 27.3%, with house approvals down 18.3% and unit approvals down by 38.8%:

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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.