Building approvals trend to lowest since April 2012

Unit approvals drying up

There was a bit of a pull-forward of demand leading to a small rise in detached house dwelling approvals in Melbourne and Brisbane ahead of changes to the building code.

And approvals for houses in Perth are surging, but overall house approvals fell -1.6 per cent in April.

Unit approvals are tanking, with appetite for development remarkably low in cities such as Perth, Brisbane, and Adelaide, in spite of chronic housing shortages. 

Sydney could only muster 950 units approved in the month, and Brisbane 308, while I believe Melbourne is likely to see approvals sink in the second half of the year as destructive land tax changes kick in.

Overall, the trend for houses is holding up, but unit approvals are plummeting.

The trend for dwelling approvals is at the lowest level now since 2012.

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