Australia?s total dwellings approved bucked the downward trend in May, rising by 9.9% driven by a 32% surge in approvals for private sector dwellings excluding houses.
Approvals for private sector houses fell 2.7% in May, taking the yearly total of private sector house approvals down almost 30%.
New South Wales had the largest drop of 11.1% in approvals for private sector houses whereas Western Australia rose 4.9%.
And while Victoria reported just a 0.9% decline in private sector housing approvals, the construction crisis in the state claimed another two building companies today as both Wulfrun Construction and Westernport Constructions enter liquidation.
Get if first, get it fast, get it on Grafa