From CommSec:
New apartment approvals slumped in March, house approvals rose and commercial building hit new highs. Dwelling approvals fell by 6.8 per cent in March, driven lower by a 20.7 per cent fall in apartment approvals. House approvals actually rose 0.5 per cent in March. Commercial building approvals rose for the third consecutive month, lifting by 6.3 per cent in March. Commercial approvals over the past year totalled $18.1 billion - a record high. Overall building activity is in solid shape, with commercial and engineering construction now leading the way rather than residential work. While activity levels remain healthy, companies lacking pricing power may experience downward pressure on profit margins.
Timbo
New apartment approvals slumped in March, house approvals rose and commercial building hit new highs. Dwelling approvals fell by 6.8 per cent in March, driven lower by a 20.7 per cent fall in apartment approvals. House approvals actually rose 0.5 per cent in March. Commercial building approvals rose for the third consecutive month, lifting by 6.3 per cent in March. Commercial approvals over the past year totalled $18.1 billion - a record high. Overall building activity is in solid shape, with commercial and engineering construction now leading the way rather than residential work. While activity levels remain healthy, companies lacking pricing power may experience downward pressure on profit margins.
Timbo
