Engineer Perth reports that there has been a recent surge in building approvals in Australia, caused by a rebound in apartment construction. Figures from the Australian Bureau of Statistics showed a 9.2% bounce in approvals for new dwellings during December 2015.
The apartment sector was up by 12.8%, after a steep decline was recorded in November 2015. Meanwhile, new detached house approvals increased 5.4%. This meant that, overall, almost 19,000 new homes were approved in December, consisting of nearly 10,000 houses and nearly 9,000 apartments. 226,000 new dwellings were approved across the whole year. This is the strongest calendar year record result in monthly records going back 36 years.
Apartment developments remain the key sector in Perth’s construction industry. There is a push for increased apartment construction in urban areas to reduce the sprawl of Perth’s suburbs. Engineer Perth considers that this would encourage greater vibrancy in commercial precincts and alleviate issues caused by urban sprawl like increased traffic congestion and commute times and decreased quality of life.
Australia is on track to build more than 200,000 new homes a year, which will erase any housing shortage that many economists argue exists. Engineer Perth is in no doubt that the boom in home building will continue to grow and support economic activity over the next year to a year and a half.
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