Building approvals have fallen for the first time in five months, but economists believe it is a temporary setback for the booming property sector.

Approvals for the construction of new homes fell 3.2 per cent in February, a smaller fall than the market had expected. It follows a gain of 5.9 per cent in January. Over the 12 months to February, building approvals were up 14.3 per cent. February’s fall was to be expected…