Approvals steady
Building approvals increased modestly by 12 per cent to 13,840 in July 2020, largely due to a bounce in attached dwellings.
Annual approvals appear to have now steadied at around 172,000, well down from the peak of 242,000 in 2016.
The HomeBuilder package has been a big success, but these figures have yet to show up in the building figures for detached homes in July 2020 (it'd be too early to flow through into July):
Unit approvals continued to rebound in Melbourne, somewhat surprisingly, given the extent of the lockdown.
Buyers should be aware of unit high vacancy rates in some inner-city areas, as discussed at Buyers Buyers here.
