Approved dwellings drop 6.5% in June amid high interest rates and building costs as CoreLogic rues ‘dismal result’
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New dwelling approvals in Australia have sunk to their lowest in 12 years, as developers battle high interest rates and rising labour and material costs.
For the year to June, 162,892 houses and apartments secured approval, down 8.5% on the previous year and the least since 2011-12, the Australian Bureau of Statistics reported on Tuesday.
Continue reading…Approved dwellings drop 6.5% in June amid high interest rates and building costs as CoreLogic rues ‘dismal result’Get our morning and afternoon news emails, free app or daily news podcastNew dwelling approvals in Australia have sunk to their lowest in 12 years, as developers battle high interest rates and rising labour and material costs.For the year to June, 162,892 houses and apartments secured approval, down 8.5% on the previous year and the least since 2011-12, the Australian Bureau of Statistics reported on Tuesday. Continue reading…