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The Australian Bureau of Statistics (ABS) on Monday released dwelling approvals data for July, which rebounded by 10.4% over the month, driven by the volatile unit & apartment segment:
This drove annual approvals up by 14.3% year-on-year.
The following chart shows total monthly dwelling approvals in trend terms:
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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.