Australian building approvals (Apr10)
Posted on 02 June 2010
On the brightside, this month’s building approvals released by the ABS yesterday (see here) record that over 160,000 dwellings were approved for construction over the last 12 months. We haven’t exceeded that number since July 2008.
Looks suspiciously like the momentum is coming out of this indicator too.
Still if we can maintain 160,000 dwellings per annum that’d be a great outcome.
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[...] is consistent with recent months building approvals (here) and housing finance data (here). The residential market has peaked and with it Australia’s [...]