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The Australian Bureau of Statistics (ABS) yesterday released Building Activity data for the December quarter of 2020, which revealed a big 18.6% rise in dwelling commencements over the quarter driven by a 27.0% surge in detached house commencements:
Dwelling commencements boomed in the December quarter of 2020, driven by detached houses.
By comparison, unit & apartment commencements rose by only 4.6% over the quarter and are tracking close to 8-year lows.
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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.