Australian housing approvals tumble 6.1 per cent amid rising costs and inflation surge

Australian housing approvals tumble 6. 1 per cent amid rising costs and inflation surge Poor public policy decisions, higher interest rates, and the Middle East war have all hit the Australian construction sector, pushing it even further behind a key national goal. New Australian Bureau of Statistics figures show housing approvals slumped in August, largely due to the volatile apartment market, which slumped 21. 2 per cent over the month to 5674 dwellings. There were 16,953 private dwellings approved in August, down 6.