Australian residential construction has skyrocketed along with house prices especially in Sydney and Melbourne.
Indeed, more than half of the 219,000 dwelling under construction are spread across just three cities — Sydney, Melbourne and Brisbane, according to a report by UBS.
The Reserve Bank of Australia warned this month a “considerable additional supply of apartments” was scheduled to come up over the next couple of years especially in the eastern capital cities
These maps by UBS point to the deployment of building cranes, which are used to construct high rises,in Sydney and Melbourne.
This map shows the Sydney hot spots
And this one shows the concentration in Melbourne