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The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of September. At the national level, the number of dwelling approvals surged by a seasonally adjusted 15.4% to 15,827. The overall rise in approvals was driven by the volatile units & apartments segment (+23.4%), whereas house approvals rose by 9.7%.
Over the year, dwelling approvals rose by 8.8%, with house approvals surging by 20.7% whereas unit & apartment approvals fell by 12.1%:
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.