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Dwelling approvals boomed in March ahead of the scheduled end of the Morrison Government’s HomeBuilder subsidy.
Total approvals rocketed by 17.4% in March to be 47.4% higher over the year. The rise was driven by units & apartments, which surged 63.4% in March whereas house approvals only rose 0.1%.
However, houses led approvals over the year, lifting 60.9% versus a 27.4% rise across the unit & apartment market.
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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.