Wednesday, April 24, 2024

The Future Of Housing In Australia Is Apartments. Lots And Lots Of Apartments

The Future Of Housing In Australia Is Apartments. Lots And Lots Of Apartments

Australia’s big cities have lots of apartments and are getting even more.

Sydney is now just 56% separate homes, according to the most recent data. That is down from 63% in 2001. Most other big capitals are on the same trajectory, as the next chart shows.

Meanwhile, the latest building approvals data shows we plan to build more apartments still.

In Sydney and the ACT a majority of approvals are for dwellings other than separate homes, suggesting that before long Sydney will have separate homes as a minority. Canberra is further from that eventuality but rushing there quickly.

Read the original article at www.criket.com.au