“Significant hit still looms”; dwelling approvals decline in June

02 August 2022

 

Summary: Home approval numbers down 0.7% in June, above expectations; strong growth in Victoria offset by declines in Qld., SA; “significant hit still looms” from rising costs, interest rates; accelerating population growth “should support total residential approvals” beyond 2022; house approvals up 0.9%, apartments down 3.1%; non-residential approvals down 6.1% in dollar terms, residential alterations down 2.2%. Building approvals for dwellings, that is apartments and houses, had been heading south...

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