Albo’s building approvals embarrassment intensifies

David Llewellyn-Smith

Wednesday 2 July 2025

Via the ABS today. Building approvals are still garbage.

Total dwellings approved rose 3.2% to 15,212.
Private sector houses rose 0.5% to 9,454 and private sector dwellings excluding houses rose 11.3%, to 5,571.
The value of total residential building rose 3.6%, to $9.28b.
The value of total non-residential building fell 22.4%, to $6.16b.

At this point, we are so far below Albo’s target that a biog pat on the back is necessary.

Nobody could be so stupid as to do this accidentally.

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.