Dwelling approvals post strong rebound

The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of November. At the national level, the number of dwelling approvals surged by a seasonally adjusted 11.8% to 14,675. The overall lift in approvals was broad-based, with both units & apartments (+22.6%) and houses (+6.1%) rising.

However, in the year to November 2019, dwelling approvals fell a seasonally-adjusted 3.8%, with house approvals down 9.9% and unit approvals down by 5.5%:

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