Australian dwelling approvals surged in February

Thursday 31 March 2022

New data from the Australian Bureau of Statistics (ABS) shows that dwelling approvals rose by 43.5% in February but were down 7.8% year-on-year.

The rise was driven by unit approvals, which surged 78.3%, whereas house approvals lifted 16.5%.

Over the year, houses approvals fell 27.4% whereas unit approvals rose 25.5%.

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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.