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1.Market Observations, 8.Was Sticky

31 May 2017 (AFR) – Apartment approvals tumble – fall to two-year low in April

(31 May 2017, AFR, p34, by Michael Bleby)

New dwelling approvals by type‘The slowing of the country’s biggest housing construction boom continued in April, with the number of new apartment approvals falling to the lowest level in two years. Despite a monthly rise in approvals for new apartments, townhouses and semi-detached homes – which rose 8.9 per cent after dropping 17.7 per cent in March – over the 12 months to April, the number fell to a seasonally adjusted 107,893. That continued a slide that started last  August when approvals peaked at 123,240 and was the lowest reading since April 2015, when the figure stood at 104,840. ‘

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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