Mumbai, Sept. 8 -- Australia's dwelling approvals fell sharply by 8.2% in July to 15,769 units, reversing June's strong rebound. The drop was mainly driven by a steep 22.3% slump in private sector unit approvals, while private house approvals edged up by 1.1%. On a yearly basis, approvals rose by a modest 6.6%, down from 28% growth last month, signaling a potential slowdown in the housing sector amid rising construction costs and tighter lending conditions.
Published by HT Digital Content Services with permission from Capital Market....