Construction loans dive as building approvals fall to lowest this year

In the year to May, building approvals were up a quarter on last year, which had, as you recall a terrible time with property investors leaving for the stock market greener pastures, and until the First Home Owners Grant was trebled for new home construction for a short time.
The one ray of sunshine to pierce the gloomy building approval scene was that private home approvals were up. This contrasts with a 20% fall in apartments and townhouse [medium and high density housing development] approvals at the same time, making things look worse that they might be.

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