Australia has never been building as many homes as it is right now.
The chart comes from Pete Wargent, one of our favourite Australian property gurus here at BI.
According to the Australian Bureau of Statistics (ABS), there were 224,914 residential dwellings under construction as at the end of March this year, surpassing the previous record of 222,142 set back in the September quarter of 2016.
There were 69,639 houses under construction at the end of the quarter, overshadowed, perhaps literally, by a mammoth 155,275 units that were also being built.
Both figures were the highest level on record.
You can access Pete’s excellent daily blog here.