Original article by Michael Bleby
The Australian Financial Review – Page: 8 : 31-May-23

The latest official building approvals data highlights the growing supply crisis in Australia’s housing market. The figure show that just 3,545 new apartments, townhouses and semi-detached homes were approved in April, which is the lowest level since January 2012. Approvals for detached homes fell by 3.6 per cent month-on-month to 8,049. A total of 11,594 dwellings of all types were approved in April, which is an 11-year low. Maree Kilroy of Oxford Economics Australia says a sharp downturn is under way and the firm does not expect dwelling approvals to rebound until late 2024.

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