Dwelling approvals surged ahead of HomeBuilder expiry

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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