The Australian Bureau of Statistics (ABS) last week released dwelling approvals data for January, which registered a record one month fall on the back of a sharp decline in both house and apartment approvals:
According to the ABS, apartment approvals were tracking 69% below their November 2017 peak.
The next chart focuses on the high-rise segment only (i.e. 4 storeys or above) and shows that annual approvals were tracking way below peak across each major capital city market:
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