Dwelling approvals down 1.5% in May
The number of dwelling approvals in the country decreased by 1.5 % in May 2018, the Australian Bureau of Statistics (ABS) reported on Tuesday.
June auction clearance rates decline
The lower week-on-week volumes did result in a slightly higher preliminary clearance rate of 56.7%, contributing to a year-to-date average of 60.5% for the first six months of 2018. This is significantly lower compared to the first half of last year, which saw an average of 72.5% of listed homes sold.
Australian home values down 0.8% since October
House values dropped for the ninth consecutive month in June, continuing their downward trajectory from the record highs of September 2017, according to CoreLogic.
