The residential construction industry in Australia has received some heartening news with the latest figures showing that building approvals remain at sky high levels even as there are suggestions that the home building market will slow.

On a seasonally adjusted basis, data from the Australian Bureau of Statistics indicates that 20,788 new houses and apartments were approved for construction in August – slightly down from blistering result of 21,170 but still the third highest level on record. Leading the charge was the multi-units sector, where approvals…