Where's the High Density Coming in Australia?

In figures released by Bankwest and reported by Alistair Walsh in The Property Observer, there's some interesting news about where medium and high density approvals are happening in Australia- which tells us where high density dwellings will be built.

For instance, last year 38% of national home approvals were for medium and high density dwellings.  That's a total of 59,276 approvals.  And the percentage has been increasing every year.

  

In 2010 - 2011 Victoria led the way with 21,235 approvals representing 36% of the national total. NSW had 16,397 approvals, representing 28%, and Queensland had 10,300, or 17%.  So it seems the southern states are leading the way on the numbers.

But, the Australian Capital Territory had the highest percentage of medium and high density approvals, which comprised 66% of all approvals and the Northern Territory was the second highest, where they comprise 57%.  By comparison New South Wales medium and high density approvals were 49% of the total.  

These figures confirm the trends we've seen for a while now with high density being the more preferred choice for new developments everywhere.  It's just that in the established free standing housing markets of Victoria, NSW and Queensland the increases are only slowly overtaking single dwellings whilst in the smaller states and territories they're representing a larger portion of the housing stock.

Either way it's good news for strata owners, managers and service providers all over Australia. 

Francesco ...