Tumbling building approvals worsening the rental crisis
Building approvals have nosedived for the third month in a row and the implications for the residential rental market and construction sector are severe.
Approvals for private sector houses fell across most states. (Image source: Shutterstock.com)
Building approvals for high density dwellings have plummeted by almost a quarter in just one month.
The November quarter building approval numbers from the Australian Bureau of Statistics, released on Monday (9 January) reflect the latest string of economic pressures faced by the building and construction industry, according to Master Builders Australia (MBA) CEO Denita Wawn.
Daniel Rossi, ABS head of construction statistics, said the result wa…
