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The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of June. At the national level, the number of dwelling approvals fell by a seasonally adjusted 4.9% to 12,213. The overall decline in approvals was broad-based, with units & apartments down 5.3% and house approvals down 5.7%.
Over the year, dwelling approvals collapsed by 15.8%, with unit & apartment approvals falling 30.5% and house approvals falling 7.0%:
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.