The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of August. At the national level, the number of dwelling approvals fell by a seasonally adjusted 1.1% to 12,817. The overall slump in approvals was driven by houses (-2.4%) with units (+3.1%) rebounding.
In the year to August 2019, dwelling approvals crashed by a seasonally-adjusted 21.5%, with house approvals down 17.0% and unit approvals tanking by 28.9%:
A chart showing the time series of seasonally-adjusted dwelling approvals at the national level is provided below, split-out by detached houses and units & apartments:
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