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The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of July. At the national level, the number of dwelling approvals rebounded by a seasonally adjusted 12.0% to 13,840. The overall lift in approvals was broad-based, with units & apartments surging 22.7% and house approvals rising 8.5%.
Over the year, dwelling approvals also rose by 6.3%, with unit & apartment approvals rising 7.5% and house approvals rising 5.6%:
According to the ABS:
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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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