A broad-based fall in building approvals has provided more evidence of an approaching slowdown in residential investment and a potential oversupply of housing.

Approvals for the construction of new homes fell 2.9 per cent in June, missing expectations of a 0.5 per cent rise. Over the 12 months to June, they were down 5.9 per cent. Private sector house approvals fell 2.3 per cent in the month, and the ‘other dwellings’ category, which…