Australia approved 16,579 dwellings in January against the 20,000 a month needed for 1.2 million homes. NSW approvals rose 40 per cent, Queensland fell 26 per cent, and last year's 175,000 leave the country 75,000 short. Intrapac's Maxwell Shifman said completions were the biggest concern.
As I told The Nightly: “The cost of building higher density housing has exploded since COVID, and is 40 to 50 per cent more expensive”
I also said: “If builders are going to meet the market, they would have to charge less for an apartment than it would cost to build one.”
And I added: “There is only so much capacity that can be unlocked. We're trying to get an old golf course rezoned, which would accommodate 1600 homes, but it is on the wrong side of the boundary,”
The Nightly, 6 March 2025