Unit approvals soon through their lows?

Building approvals fall

House approvals are trending higher in Perth and Adelaide, but are a bit lacklustre elsewhere. 

Sydney is approving even fewer houses than Brisbane at the moment, which is concerning!

Unit approvals may be through their cycle lows, with some slightly larger projects getting through planning of late, most notably in Melbourne.

Overall, dwelling approvals fell -8.8 per cent in March, however, to a disappointing total of only 15,220.

Over the financial year to date, just 139,350 dwellings have been approved, about 23 per cent below the government's implied target of 180,000 (or 20,000 per month). 

Poor numbers, really, and the housing shortage continues to worsen towards 300,000 dwellings, but there may be some brighter news ahead for housing supply as interest rates fall. 

James Foster ran through the key figures in further detail here.

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