Approvals to build or renovate apartments across Australia dramatically dropped in December, according to data from the Australian Bureau of Statistics. In fact, figures from November saw a drop of 3.3%.
Permits soared by 7.7% in October to November, and by 11.9% in September to October.
Meanwhile, the period of November to December experienced a decrease by 9.7% for apartments, while the figure for houses was unchanged.
Overall building approvals in the country rose 8.8% in December compared to 2013’s same period.