Business News
Dwelling approvals across the nation have slumped to their lowest levels in a year, with experts warning a worsening of the housing crisis would follow.
Total approvals fell six per cent to 14,744 for August, primarily due to large declines in apartment and townhouse approvals.
Private dwelling approvals excluding houses fell 8.1 per cent, adding to the 25.8 per cent drop in the same category in July; private sector houses were also down 2.6 per cent in August.
Western Australia and Queensland were the only two states to record an increase in private sector housing approval (WA up 1.7 per cent, QLD up 2.9 per cent).
That wasn’t enough to buoy the total WA approvals though, with approvals down 7.3 per cent across all categories in the state.