Dwelling approval numbers up in November but declines likely ahead

Summary: Home approval numbers up 3.6% in November; slightly larger than 3.0% expected; down 7.7% on annual basis; “not necessarily beginning of upward trend”; ANZ: approvals have some chance of holding up but “bigger risks” looking further out; NAB: “further declines likely”; house approvals up 1.7%, apartment up 7.5%; non-residential approvals up 28.3% in dollar terms, residential alterations down 0.8% over month. Building approvals for dwellings, that is apartments and...

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