The apparent demand for high rise apartments, particularly in Sydney and Brisbane, should see housing remain strong for some time yet, according to Master Builders Australia .
“There was a massive jump of 48.1 percent in other dwellings approvals in March which has kept approvals high overall,” Mr Wilhelm Harnisch, MBA’s Chief Economist and Deputy National Executive Director said.
“However, the jump in other dwellings masks the decline in private sector houses which fell by a seasonally adjusted 3.8 percent in March.”
Seasonally adjusted, the total number of dwelling approved rose by 7.6 percent to 13,800 units and were 46.2 percent above last year.
