A detailed look at Australian dwelling construction

Yesterday, the Australian Bureau of Statistics (ABS) released dwelling construction data for the March quarter, which showed that detached house commencements hit the highest level on record over the quarter, whereas unit commencements fell to a nine-year low:

Dwelling commencements

Homebuilder drives record detached house commencements.

By contrast, actual dwelling completions remained depressed over the quarter, suggesting the pipeline of construction is well and truly full:

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