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More focus now on high-rise property in Australia

Builders are now focusing on high-rise apartment blocks in Australia.
Earlier this week, it was announced that the level of lending being afforded to builders for the construction of new homes in Australia had reached a four-year high, and now it seems that this money is being focused in new areas.

According to Business Times, there is a growing trend for building high-rise apartment blocks as opposed to houses, a fact that it says can help give a boost to the nation's property sector.

It's a move that should be able to address the sector's supply and demand issue that has seen the price of homes rocket in recent times as demand has increased in an increasingly financially confident Australia.

Business Times said that the previous focus of investors was on larger detached homes, and it added that the change towards high rise will mean that there is a greater level of stock coming to market at one time. 

Posted by Steve Douglas

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