Approvals for private sector houses have fallen to their lowest point in 10 years as easing property prices and high building costs continue to weaken demand for new homes.
House approvals fell by 13.8 per cent in January, down for the fifth month in a row, Australian Bureau of Statistics data shows.
Sign off on private sector dwellings excluding houses, which is typically a more volatile series, sunk 40.8 per cent, largely unwinding the 41.9 per cent uptick in December.
