Building approvals off record highs

01 October 2015

 

The Australian Bureau of Statistics released August building approval figures which were weaker than expected. Total approvals fell 6.9% compared to the expected figure of -2.0% but the fall comes off a revised July figure of 7.9% (initially recorded as a 4.2% rise). The fall was driven by an 11.4% fall in units which appears to be centred in NSW, where unit approvals dropped by 28.5%, although NSW’s unit approval...

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