Sydney’s highrise boom smashes records

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By Leith van Onselen

Yesterday’s dwelling approvals data from the ABS reported another trend increase in unit & apartment approvals, which have risen by 3.7% over the past quarter in trend terms and now easily exceed detached house approvals (see next chart).

ScreenHunter_14668 Aug. 30 12.11

To add more colour to this series, I have once again plotted the breakdown of approvals by type for each of the states and territories, which are presented below in rolling annual terms to smooth volatility.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.