Unit Building Tops Houses For 1st Time

Record completions mean more apartments than houses have been built recently, for the first time on record.

With a major lifestyle shift and affordability issues continuing in some cities, the trend is expected to continue.

Latest ABS quarterly building activity data finds that more new units were completed (28,527) than new houses (28,102) over the three months of the December Quarter.

The growth in unit completions hit a record 26%, compared to new house completions which were up just 0.7%.

But while nationally the surge in unit building is at record levels, there are signs of a slowdown in the number of units being built in Brisbane and Melbourne, where there are concerns about oversupply in the inner-city areas.

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