Building approvals fell 1.8% in April

Approvals for the construction of new homes fell by a seasonally adjusted 1.8 per cent in April, lower than the 10 per cent decrease the market was expecting.

Approvals for private sector houses were up 2.7 per cent in the month, while the “other dwellings” category, which includes apartment blocks and townhouses, fell 8.9 per cent.

In the 12 months to April, building approvals were up 5.7 per cent, the Australian Bureau of Statistics said on Wednesday.

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