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New home building approvals fell in January, dashing hopes of an upturn in building activity, ABS data revealed today.
Total dwellings approved fell 3.7 per cent, seasonally adjusted, in January, marking the seventh monthly decline and a 33.5 per cent drop since January 2008
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Unit approvals were the root cause of the decline; they sank by 15.4 per cent, seasonally adjusted, to be 54.5 per cent down on January last year.
House approvals crept up by a paltry 1.1 per cent.
