New housing approvals in May fell almost a third short of the 20,800 monthly rate effectively needed to reach national cabinet’s 1.2 million new homes a year, even as they picked up at their fastest rate in six months.
Approvals of new homes of all types jumped 5.5 per cent from April to 14,175, making it the highest total since November’s 14,632, Australian Bureau of Statistics numbers showed on Wednesday.
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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
