Economic Buzz: Australia's dwelling approvals jump 7.2% to four-month high

Australia's dwelling approvals surged 7.2% month-on-month to a four-month high of 18,328 units in June, rebounding strongly from May's decline as approvals for private sector dwellings excluding houses jumped 17.8%. Approvals for private sector houses also edged 0.4% higher, extending their steady recovery. On an annual basis, total dwelling approvals increased 8.9%, underscoring resilient housing construction activity despite elevated interest rates. The sharp rebound was largely driven by stronger apartment approvals, while private house approvals continued to post robust year-on-year growth.

Powered by Commodity Insights