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The Australian Bureau of Statistics (ABS) released dwelling approvals data for June, which posted another solid rise.
There were 15,984 dwellings approved in trend terms in June, the highest volume since September 2022.
Despite the rebound, approvals remained 20% below the monthly 20,000 run rate required to meet the Albanese government’s target to build 1.2 million homes over five years.
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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.
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