Australian high-rise apartment crash gathers pace

Last week, the Australian Bureau of Statistics (ABS) released its dwelling approvals data for May, which revealed that high-rise apartment approvals have collapsed by 43% since peaking in October 2015, driven by the three major jurisdictions:

As shown above, there were 44,381 high-rise apartments approved across the nation in the year to May 2019, well down from the peak of 78,089 in the year to October 2015.

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