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Building approvals set to slide in April

Building approvals figures, out on Tuesday, are expected to show the resumption of a down trend, with a three per cent fall.

Construction of apartments and houses
Building approvals are expected to have slipped three per cent in April. (AAP)

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Source: AAP


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Building approvals are expected to have slipped three per cent in April.

The forecast is for a fall in official new home construction approval figures for April, due on Tuesday, after a 3.7 per cent rise in March, seasonally adjusted.

Westpac economists are tipping a four per cent drop in the April figures, which will reinstate a clear underlying down trend.

"Given the high-rise bounce in March, there is some risk of a heftier fall, although broader housing market conditions have been somewhat firmer in early 2016," the economists said in a note.


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