The worst has passed for Australia’s medium- and high-rise housing sector, economists said on Monday, after a jump in approvals of new apartments, townhouses and semi-detached homes more than offset a drop in new detached homes and lifted total approvals by 4.2 per cent.
The 22.4 per cent seasonally adjusted pick-up in attached homes lifted the monthly total to 6130 – the most since May 2023 – even as approvals of standalone houses fell 5 per cent from September to 9368.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
