Home prices are set for a gradual fall rather than a crash, as approvals for new homes are slowing, economists say.

Approvals for the construction of new homes fell 8.7 per cent in September, and were down 6.4 per cent in the past 12 months, Australian Bureau of Statistics figures show. Private sector house approvals rose 2.3 per cent in September, while the ‘other dwellings’ category, which includes apartment blocks and…