New dwelling approvals fell a more-than-expected 8.6 per cent in July as the end of the HomeBuilder stimulus program cut the total of new houses for a third month and new attached dwelling approvals also dropped.
The seasonally adjusted total of 17,601 dwelling approvals marked the fourth straight decline and was the lowest monthly total since January, pulled down in part by a 24 per cent decline in detached-house approvals from their peak of 15,443 in April to 11,671 in July.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
