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Approvals fall but builders still busy

The number of new homes approved for building across Australia continues to slide, down by a third compared to the same time last year.

Graphic with miniature building figures working on house set upon an architect's plan.
Detached house approvals continue to be elevated compared to pre-covid levels.

There was a further drop in the number of new homes approved for building across Australia during April 2022.

Latest ABS data indicates there was a 2.4 per cent drop in the total number of new homes receiving building approval during the month. Compared with a year earlier, the volume of approvals is down by some 32.4 per cent. 

Denita Wawn, CEO of Master Builders Australia said, “The sharp decline in approvals over the past year is the result…