housing approvals decline

Other detail was mixed but soft overall. Private house approvals declined 2.2%mth to be down 5.2% since January's peak. By state, June saw a 4.7% gain in NSW, flat house approvals in WA but declines in Vic (–2.2%), Qld (–4.6%mth after 8.2% gain in May) and a sharp fall in SA (–16.2%). House approvals in every state have either 'topped out' or are seeing slight trend declines. Similarly, unit approvals are showing a clear pull back.