Advertisement
The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of September. At the national level, the number of dwelling approvals rebounded by a seasonally adjusted 7.6% to 14,004. The overall rebound in approvals was driven by units & apartments (+16.6%) with houses (+2.8%) also rising.
In the year to September 2019, dwelling approvals crashed by a seasonally-adjusted 19.0%, with house approvals down 11.1% and unit approvals tanking by 27.4%:
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:
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.
Advertisement