"Decade-low building approvals could spell disaster for the future of the Australian government's ambitious plans to tackle the worsening housing crisis, property experts say.
New statistics released by the Australian Bureau of Statistics show the total number of dwellings approved in April fell by 0.3 per cent from the month prior.
Approvals were also down in three out of the seven states.Australian Housing and Urban Research Institute's Dr Michael Fotheringham said April's figures were in keeping with a broader trend in the country's struggling building sector.
"There's a downward slide in the number of approvals overall in recent months, which reflects a couple of things," he said."There's a tapering off of consumer confidence in investing and building a new home, with interest rates and cost-of-living pressures making it a difficult decision for people."
