Australian dwelling approvals jumped 8% in December

Thursday 3 February 2022

New data from the Australian Bureau of Statistics (ABS) shows that dwelling approvals rose by 8.2% in December but were down 7.5% year-on-year.

The rise was driven by unit approvals, which surged 27.5%. This was partly offset by house approvals, which fell 1.8%.

Over the year, houses approvals fell 21.3% whereas unit approvals rose 24.5%.

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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.