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

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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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