12-year low for home approvals in June

Summary: Home approval numbers down 6.5% in June, fall more than expected; 3.7% lower than June 2023; Westpac miles below pace required to reach Housing Accord target; ACGB yields mostly slightly higher; rate-rise expectations over next six months firm; house approvals down 0.2%, apartments down 18.4%; non-residential approvals down 16.2% in dollar terms, residential alterations up 10.2%. Building approvals for dwellings, that is apartments and houses, headed south after mid-2018....

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