Aussie dwelling approvals suffer record fall in January

Thursday 3 March 2022

New data from the Australian Bureau of Statistics (ABS) shows that dwelling approvals plunged 27.9% in January to be down 24.1% year-on-year. It was the largest one month decline since the data started in July 1983.

The decline was broad-based with house approvals falling 17.5% and unit approvals falling 43.6%.

Over the year, houses approvals fell 29.0% whereas unit approvals fell 8.5%.

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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.