Dwellings Approval Rates Lift in October, Most High-Rises Since January

Total number of dwellings approved rose 6.1 percent year over year to 15,498 in October.

A general view of homes in McMahons Point in Sydney, Australia on May 5, 2022. Brendon Thorne/Getty Images

The number of dwellings approved increased in October, Australian Bureau of Statistics (ABS) data showed, reflecting an increase in apartment developments greenlighted in New South Wales and Victoria.

Total number of dwellings approved rose 6.1 percent year over year to 15,498 in October. In nine or more storey blocks, 2,782 apartments received approval in October, the most high-rise apartments approved since January this year.