Building housing in Australia is too expensive

I have consistently cautioned that the state and federal governments’ plans to blanket our cities with high-rise apartments will not improve housing affordability.

The reason is simple: it is too expensive to construct apartments. As a result, they cannot be delivered at a reasonable cost to buyers.

Urbis highlighted the excessive cost of apartment development, reporting that selling prices in Australia’s largest cities rose by a record 24% last year, reaching more than $19,000 per square metre.