New dwelling approvals fell to their lowest level in almost two...

New dwelling approvals fell to their lowest level in almost two years in August, as building approvals for high-rise apartments slumped by more than one-third from the previous month.

Total new home approvals fell 9.4 per cent from July to 16,477 in seasonally adjusted terms, the lowest monthly total since October 2016 when the total was 16,334, official figures on Wednesday showed.

While approvals of new standalone houses slipped just 1.7 per cent month on month to 9664, the big decline came in attached dwellings - units, townhouses and semi-detached homes - which declined 18.4 per cent from July to 6813. The largest component was in high-rise apartments, however, with the number of units in towers four storeys and higher suffering a 38 per cent decline to 3037, the lowest number for that measure since March last year.


https://www.copyright link/real-est...in-almost-two-years-in-august-20181002-h165bw


Amazed to see that CSR is holding up despite this bad news today..