The number of dwelling units approved in Australia dropped in June, but the rate of decline was weaker than expected by economists, data from the Australian Bureau of Statistics showed Tuesday.
As many as 13,336 dwelling units were approved in June, which was 2.5 percent less than a month earlier on a seasonally adjusted basis. Economists expected a decline of 15 percent after a strong 27 percent gain in the previous month.
The seasonally adjusted estimate for private sector houses fell 1.1 percent in June following a rise of 7.3 percent in the previous month.
Year-on-year, total dwelling permits increased 10.2 percent. Approvals for private houses declined 7.7 percent annually.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.