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Increase in medium dwellings bu...

Increase in medium dwellings built

There has been a move towards medium-sized dwellings being built in Australia, according to a new report.

There has been a move towards medium-sized dwellings being built in Australia, according to a new report.

The latest Bankwest Housing Density Report revealed a record 43.4 per cent of total new home approvals were given for medium density dwellings in the past year - compared to 39.8 per cent in 2012.

Townhouses and semi-detached buildings appear to be gaining in popularity with buyers, especially as prices across the market remain high.

"Australians' appetite for medium density housing is steadily outstripping stand-alone homes," explained Bankwest's executive general manager of Retail Mark Reid.

He added: "Smaller housing options continue to increase in popularity as the population grows and consolidates around Australia's capital cities."

It appears that a move towards smaller properties is part of a long-term trend in the country, with medium density housing supplies increasing by 45.9 cent over the past five years, compared to an 8.5 per cent decline in stand-alone homes over the same period.

Posted by Craig Francis.

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