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Small one and two-bedroom apartments served as the foundation for the high-rise construction boom of the previous decade.
As shown below by the ABC, compact apartments with two or fewer bedrooms dominated apartment supply in the three main capital cities:
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Unfortunately, many of these ‘shoebox’ apartments were poorly constructed. The most conspicuous examples were Sydney’s Opal and Mascot Towers, which required evacuation owing to widespread cracking.
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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.