As house construction booms, apartment construction busts

Thursday, 4 February 2021

Yesterday’s dwelling approvals data for December, released by the ABS, revealed that detached house approvals surged to their highest level in the series’ 38-year history:

At the same time, however, unit & apartment approvals have retraced to around 2010 levels:

The Housing Industry Association (HIA) explains this divergence as follows:

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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.