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New data released today by the Australian Bureau of Statistics (ABS) shows that dwelling approvals fell by 0.7% in June to be down 17.2% year-on-year.
The fall was driven by unit approvals, which fell 5.7%, whereas house approvals rose 1.2%.
Over the year, houses approvals fell 22.0% whereas unit approvals fell 10.1%.
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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.