Approvals numbers dive, “further downside ahead”

01 July 2020

 

Summary: Home approval numbers dive; fall worse than expected; house approvals down moderately while apartment approvals plummet; non-residential approvals down for fourth consecutive month; recent figures down only modestly in absolute terms.   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...

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