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AAP
AAP
Business
Poppy Johnston

Building approvals muted and to stay subdued all year

Interest Rates Tom Devitt
New home starts have been sluggish in the face of higher interest rates and building costs. (Mick Tsikas/AAP PHOTOS)

Approvals for new home building were unchanged last month as higher interest rates and high labour and material costs continue to take a toll.

Detached house approvals sank 1.6 per cent in April while multi-unit homes fell 1.1 per cent, with public dwellings posting an improvement, the Australian Bureau of Statistics said on Thursday.

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