More units have been approved in Melbourne's CBD in the past year than inner city Sydney, Brisbane and Perth combined

Vince Caligiuri/Getty Images

If you couldn’t tell by the rapidly developing skyline, the number of unit approvals in inner city Melbourne have soared over the past year.

According to research by CoreLogic-RP Data the number of approvals totalled 12,516 in the year to April.

To give an example of the scale of Melbourne’s high-rise boom, when you add unit approvals for inner city Brisbane, Sydney and Perth over the same period, the total number is just 11,524 — about 1000 less than Melbourne’s CBD.

This chart from the ABS shows total residential unit approvals for Victoria on a rolling 12-month basis.

It’s clear why many experts are cautious of the outlook for Melbourne’s property market.

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