More mid-rise housing units needed in Australia

Font size :
Varied housing options, particularly mid-rise developments, may solve the demand for more housing in Australia’s major cities where population growth is robust and house values are soaring.
 
Authors of a new report by consulting firm Urbis noted an increase first described in the 2011 Census, which found over 150,000 mid-rise housing units were built in some Australian suburbs since 2001.
 
“With building approvals for flats and apartments up by 36% over the past year we are seeing a major shift towards higher density dwellings that has never been seen on such a widespread scale in Australia,” the report, titled Australia’s Embrace of Medium & High Density Housing, stated.
 
Recent data from the Australian Bureau of Statistics projected the national population to reach 46m by 2075, giving both Sydney and Melbourne about 8.5m residents. Perth will overtake Brisbane as the third-largest city under that circumstance.
 
“Medium rise developments are increasingly providing a key element of housing within our cities," said Urbis director Rebecca West. "Most planning schemes have now identified locations for this type and scale of housing development which has the benefit of supporting existing activity centres, providing increased housing and diversity and relieving pressure from established residential precincts.”
 
Typically, mid-rise projects are three- to eight-storeys high and are erected in neighbourhoods with existing urban infrastructure, such as transportation, retail, and entertainment.
 

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Sunday, Sep 24, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords