Building approvals resume their plunge

David Llewellyn-Smith

Monday 9 January 2023

Via the ABS, building approvals resume their plunge. No end in sight.

The November 2022 seasonally adjusted estimate:

Total dwellings approved fell 9.0%.
Private sector houses approved fell 2.5%, while private sector dwellings excluding houses fell 22.7%.
The value of non-residential building rose 2.0%.
The value of total building fell 1.5%.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.