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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
Building approvals for March came in weaker than expected falling 0.1% m/m after rising 3.9% driven by a 2.8% drop in private houses, which was payback for the very strong 11.3% rise in February. The total is down 17.3% on the year while private houses are down 15% y/y, the 18th consecutive negative result. Residential building approvals remain very weak in an environment where there is strong demand for homes driven by an increase in immigration which is concerning the RBA as it is pushing up rents and house prices.
- The more volatile multi dwelling component rose 5.6% after falling 9.7% and is down 20.9% y/y. Public sector approvals rose 1% m/m to be down 30.2% y/y.
Australia number of dwellings approved - private sector houses
Source: MNI - Market News/ABS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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