Latest research from Bankwest shows that the units and townhouses comprise 43% of new building approval figures, a clear sign that these types of dwellings are slowly becoming the choice for most home buyers and investors. Five years ago, units only comprise 30% of dwellings constructed.
In key capital cities such as Sydney, Canberra and Darwin, units comprise 68% of total dwellings approved in the past year. Melbourne units are at 55% and Brisbane at 53%.
One of the keys pointed out in the increase in units is affordability. In Sydney, the median price of units cost $221,000 less than the median price of regular dwellings. Units are also low maintenance dwellings compared to houses, as most don’t have gardens and lawns to manage.
Read more about this on the Property Observer website.