Dwelling approvals up in Feb; still shows “clear slowdown”

Summary: Home approval numbers up 4.0% in February, below expectations; 31.1% lower than February 2022; Westpac: figures still show clear slowdown; house approvals up 11.1%, apartments down 8.4%; non-residential approvals up 39.8% in dollar terms, residential alterations up 3.7%. Building approvals for dwellings, that is apartments and houses, headed south after mid-2018. As an indicator of investor confidence, falling approvals had presented a worrying signal, not just for the building...

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