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Wednesday, 1 April 2020

Melbourne unit approvals rebound

Jump in Melbourne units

Melbourne saw 3,547 attached dwellings approved in February 2020, which was the highest monthly result for the Victorian capital since November 2017.

Elsewhere it's more a case of 'as you were' as dwelling approvals continued to tighten. 

House approvals also continued to decline in Sydney, while Melbourne experienced a bounce here too.

Overall, dwelling approvals rebounded by 20 per cent to 15,700 in the month of February, exclusively driven by activity in Victoria.

Attached dwelling approvals jumped 62 per cent, from a very low base. 

Many of these approvals will now be mothballed, and the downtrend will resume in next month's figures regardless.