April home approvals drop, “largely confined” to high-rise

Summary: Home approval numbers fall in April; slightly lower than expected figure; “largely confined to high-rise”; economists divided on outlook; house approval up, apartment approvals drop; non-residential approvals drop but still up on annual basis.   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...

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