Fall in Australian building approvals dents hopes of housing supply recovery

Australia's Labor Government had promised to increase housing supply. (Image: File)

Thu, 09 Jan 2025

By James GlynnAustralian building approvals were weaker than expected in November, denting hopes of a big recovery in housing supply to meet surging immigration.The total number of dwellings approved fell 3.6% in November to 14,998, after a 5.2% rise in October, the Australian Bureau of Statistics (ABS) said on Tuesday.Economists had expected approvals to drop 0.9% over the month.Housing supply is a big issue for the Australian economy and ahead of a federal election due by mid-May, with surging immigration helping to keep house prices high eve...

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