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The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of December. At the national level, the number of dwelling approvals rose by a seasonally adjusted 10.9% to 19,537. The overall rise in approvals was driven by house approvals, which surged by 15.8% whereas the volatile units & apartments segment only rose by 2.3%.
Over the year, dwelling approvals rose by 22.8%, with house approvals surging by 55.6% whereas unit & apartment approvals fell by 19.3%:
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.
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