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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The next chart, which presents the data in seasonally adjusted terms, plots the changes:
Annual dwelling approvals continue to fall from peak, driven by house approvals:
The next chart plots trend approvals across the major jurisdictions, which shows that all markets have turned down:
The big slowdown should arrive next year after the large number of HomeBuilder stimulus homes currently under construction are finished.