The number of residential building approvals fell by a modest 1.8% in October, less than market expectations whichcentred on a 5.0% fall {CBA (f) -6.5%}. September was revised higher to a reasonably strong 16.9%, from 14.4%. Hencethe buoyant annual lift of 23.1%. Multi-unit dwellings fell by 2.7% in September but are still a whopping 47.7% higher overthe past year. Detached dwelling approvals fell by 0.3% but are still a firm 9.6% higher than a year ago.
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Commonwealth Bank