Approvals for residential unit structures four stories or higher – high-rise apartment buildings, basically – rose to 63,771 in June, the largest level on record.
The rise of high-rise has been amazing.
In the 12 months to October 2009 there were only 13,540 approvals in high-rise structures.
Now, less than six years later, that figure has ballooned to 63,771, an increase of 371%.
Whatever the reason – be it affordability, lifestyle or other – Australians appear to be moving up rather than out at present.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.