The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of July. At the national level, the number of dwelling approvals jumped by a seasonally adjusted 11.3% to 20,987. The overall fall jump was driven entirely by the volatile unit & apartment segment, which surged by 23.0%, whereas detached house approvals fell by 0.5% over the month.
In the year to July 2016, dwelling approvals rose by a seasonally-adjusted 3.1%, again driven by a 15.7% jump in unit & apartment approvals, with house approvals falling by 2.9% over the year:
