February 04, 2022

In The Press – Resurgent apartment demand adds to construction cost pressures

News & Insights
Written by Senior Reporter Michael Bleby for the Financial Review.
Dwelling approvals, stoked by a resurgence in apartments, at a five-year high are driving demand and worsening the disruption to supply chains and labour shortages choking Australia’s house-building industry.

Official figures on Thursday revealed 228,055 new housing approvals in 2021, the most for any calendar year since the 2017 total of 234,673. Separate industry figures showed construction activity dropping over December and January to its lowest level since August..."
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