Research from Bankwest has found changes in the habits of investors purchasing property in Australia, with 38 per cent of home approvals over the last year being for a medium-density house.
This is close to a record high and suggests that an increasing number of home buyers are opting for units and townhouses over free-standing houses.
The Bankwest Housing Density Report shows that factors such as affordability, lifestyle choices and a difficult rental market are impacting on purchasing plans, claims retail chief executive Vittoria Shortt.
"What we are seeing is Australians choosing different types of housing to suit our modern lifestyle," said Ms Shortt.
Victoria has the most medium density approvals over the course of the year, with 36 per cent of the national total. New South Wales (28 per cent) was second.
The Australian Finance Group announced that the number of mortgage applications it had dealt with soared by 18.4 per cent from October to November, potentially indicating healthy growth in Australian housing.
Posted by Steve Douglas
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