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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 fell by a seasonally adjusted 4.0% to 15,279. The overall decline in approvals was driven by units & apartments, which fell by 8.2%, with house approvals also falling by 1.2%.
Over the year, dwelling approvals rose by 0.2%, with unit & apartment approvals rising 3.4% and house approvals falling by 2.2%:
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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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.
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