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1.Market Observations, 8.Was Sticky

2 Oct 2019 (AFR) – Building approvals fall again in August

(2 October 2019, AFR, p35, Michael Bleby, Senior Reporter)

Housing approvals by type (ABS, AFR)

Housing approvals by type (ABS, AFR)

‘The prospects for new housing supply worsened further in August as approvals contracted for the fifth month out of the past six, pulled lower by weaker detached houses. Total new dwelling approvals fell 1.1 per cent, confounding expectations for a 2 per cent pick-up after July’s 9.7 per cent month-on-month contraction and suggesting the pick-up in housing prices in Sydney and Melbourne in recent months has not flowed through to the new housing pipeline.’

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

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