The switch to apartment living is strongest in NSW, according to a major property developer.
Urban Taskforce cited ABS’ recent statistics – showing a jump in apartment building approvals - as a sign detached housing was rapidly falling out of favour.
“What the statistics seem to demonstrate is the swing to apartment living is NSW is strong. No other state has apartment approvals ahead of detached houses,” it said.
Non-residential building approvals also spiked, which Urban Taskforce is hoping may revive construction in NSW.