The ABS has released dwelling construction data for the September quarter, with dwelling commencements posting a significant fall.
According to the ABS, the number of dwelling commencements dived by a seasonally-adjusted 16.3% over the September quarter but were up 30.8% over the year. Detached house commencements fell by 16.5% over the quarter to be up 31.3% over the year, whereas unit commencements fell by 15.8% over the quarter to be up 31.1% over the year:
However, as shown in the next chart, annual house commencements are running way above the long-term average at all-time highs driven by HomeBuilder stimulus, whereas apartment commencements continue to run slightly above average levels:
Advertisement
