The boom in the red-hot apartment building sector appears to be tapering off slightly as approvals for multi-residential construction appear to be slowing down.

The latest data from the Australian Bureau of Statistics suggest that on a seasonally adjusted basis, the overall number of multi-residential dwellings (townhouses, units, apartments etc.) approved for construction dropped by 16.2 percent in September to come in at 9,234 – the third lowest level on record since October 2014….