New data from the Australian Bureau of Statistics (ABS) shows that dwelling approvals fell by 12.9% in October and were down 8.1% year-on-year.
The fall was driven by unit approvals, which tanked 37.5%. This was partly offset by house approvals, which rose 4.3%.
Over the year, houses approvals fell 3.7% whereas unit approvals fell 16.5%.
