Approvals peaking
Strong building approvals in August, at 18,716 approved.
Melbourne saw more than 3,000 homes approved in the month, which was a phenomenal result, all things considered.
Approvals for houses are likely to fall from here, however, as the HomeBuilder stimulus is worked off.
Melbourne also saw a bounce in unit approvals in August, but the trend is clearly lower.
Overall, a solid result again.
But construction will become a headwind the economy next year, after very successful stimulus packages for new houses and renovations.
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Detail from the data king James Foster here.
