Dwelling approvals bounce in November but don’t expect it to continue

According to the Australian Bureau of Statistics (ABS) November 2016 building approvals data there were 17,569 houses and units approved for construction across the country over the month.  Based on the seasonally adjusted series, the number of dwelling approvals rose by 7.0% over the month due to a substantial rebound in unit approvals.  Despite an increase in approvals in November, they are -4.8% lower over the year and are -18.6% lower than their peak in October 2015 when 21,588 houses…