Australia’s Detached Home Boom Continues to Rise Higher Than Ever
The country now has the highest number of detached homes currently under…
21 March 2022
The next cycle of build-to-sell and build-to-rent apartments is underway, with the market responding to population growth, affordability and the slow return to Australian cities.
Australians will be driven back towards apartment living as city life becomes popular once again and affordability in apartment living supersedes detached homes.
Apartment construction commencement numbers were significantly down across all major capital cities in Australia last year, due to the Covid-19 pandemic. The shift to working from home and avoiding crowds pushed many families and investors into outer suburbia or rural areas, however, as life returns slowly back to normal, so too does the popularity of the CBDs in major cities.
Detached housing and massive delays in construction will also push investors and first home buyers into considering city apartment living once again.
Current data shows that record median house to apartment price gaps will encourage a flight to apartment living in Melbourne, Sydney and Brisbane.