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New data from the Australian Bureau of Statistics (ABS) shows that dwelling approvals fell by 18.5% in March and were down 35.6% year-on-year.
The fall was driven by unit approvals, which fell 32.2%, whereas house approvals fell 3.0%.
Over the year, houses approvals fell 32.2% whereas unit approvals fell 41.0%.
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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.
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