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The Growth of Apartment Construction in Australia

Author

Listed:
  • Michael Shoory

    (Reserve Bank of Australia)

Abstract

Apartments have become an increasingly important contributor to new dwelling construction over recent years and in 2015 accounted for more than one-third of all residential building approvals. The majority of recent apartment construction has been located in Sydney, Melbourne and Brisbane. Across these cities there have been differences in geographical concentration, the types of buyers purchasing the dwellings and supply-side factors such as planning frameworks. The increase in apartment construction has reflected a range of factors, including the nature of land supply constraints and affordability considerations, together with a desire to reside in close proximity to employment centres and amenities. Given that these factors are likely to persist, apartments are expected to continue to play an important role in providing new housing supply.

Suggested Citation

  • Michael Shoory, 2016. "The Growth of Apartment Construction in Australia," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 19-26, June.
    • Handle: RePEc:rba:rbabul:jun2016-03
    as

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    File URL: https://www.rba.gov.au/publications/bulletin/2016/jun/pdf/bu-0616-3.pdf
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    Citations

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    Cited by:

    1. Satheeskumar Navaratnam, 2022. "Selecting a Suitable Sustainable Construction Method for Australian High-Rise Building: A Multi-Criteria Analysis," Sustainability, MDPI, vol. 14(12), pages 1-17, June.
    2. Christopher G. Gibbs & Jonathan Hambur & Gabriela Nodari, 2021. "Housing and Commodity Investment Booms in a Small Open Economy," The Economic Record, The Economic Society of Australia, vol. 97(317), pages 212-242, June.

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