Building approvals jump, but it won't last

Michael BlebyDeputy property editor

Apr 1, 2020 – 12.43pm

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Already a subscriber?

Homebuilding is set to decline despite new official figures showing a jump in the pipeline of new housing approvals made by local councils.

ASX-listed home builder Tamawood on Wednesday said it would delay its dividend and warned of a COVID-19-driven slowdown, even as Australian Bureau of Statistics figures showed new housing approvals jumped in February on the back of Victorian apartment approvals that grew at their fastest pace more than 25 years.

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.