Approvals numbers beat estimates again, provides “false sense of security”

03 June 2020

 

Summary: Home approval numbers fall; again, better than expected; house approvals up, apartment approvals down; non-residential approvals down for the third month running.   Approvals for dwellings, that is apartments and houses, had been heading south since mid-2018. As an indicator of investor confidence, falling approvals had presented a worrying signal, not just for the building sector but for the overall economy. However, approval figures from late-2019 and even from...

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