Dwelling approvals collapse to 8-year low

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%:

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