Australia's dwelling unit approvals rose 5.5% in May, led by Western Australia, Victoria, and Queensland, but remained below the federal government's target and declined 8.5% year-on-year.
Australia's dwelling unit approvals rose 5.5% in May, according to the Australian Bureau of Statistics (ABS), though this remains below the federal government's target. Western Australia led growth with a 19.6% increase, followed by Victoria (8.9%) and Queensland (6.3%). However, dwelling approvals decreased 8.5% year-on-year, with private sector houses down 12% and private sector dwellings excluding houses down 31.7%.
July 07, 2024
5 Articles