Advertisement
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:
Advertisement
The Housing Industry Association (HIA) explains this divergence as follows:
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.