Building approvals dropped
House approvals are now falling away in most cities, with the HomeBuilder grant boost no longer available.
Unit approvals fell 11 per cent in October, led by a big drop in Sydney.
The trend for unit approvals is running at around 6,000 per month, having been above 10,000 per month in 2016.
Analysts expect building approvals to keep falling from here, as rising interest rates bite.
The annual number of building approvals fell to 192,600, which is the lowest level in 21 months.
Building approvals are dropping off just as immigration is set to romp to a record high.
Interesting times ahead.
