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The Australian Bureau of Statistics (ABS) yesterday released its dwelling approvals data for September, which revealed that apartment approvals have fallen 59% below their November 2017 peak:
Today, I want to focus on the high-rise apartment segment, which has driven the apartment bust.
The next chart shows the picture at the national level and across the four major markets, presented in rolling annual terms:
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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.