Finance Finance News New home approvals down

New home approvals down

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Approvals for the construction of new homes fell 5.0 per cent across Australia in June, official figures show.

Local councils approved the construction of 15,659 new homes, including houses, townhouses and apartments in multi-unit buildings, in June.

Over the 12 months to June, building approvals were up 16 per cent, the Australian Bureau of Statistics said on Thursday.
Economists expected approvals to be flat in June.

Approvals for private sector houses fell 2.2 per cent in the month, and the ‘other dwellings’ category, which includes apartment blocks and townhouses, was down 10.5 per cent.