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New data from the Australian Bureau of Statistics (ABS) shows that dwelling approvals fell by 8.6% in April to be 39.2% higher over the year.
The fall was driven by units & apartments, which tanked 28.6% in April whereas house approvals rose 4.6%.
Houses led approvals over the year, lifting a whopping 67.4% versus a 1.7% 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.
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