I have frequently cautioned that state and federal government plans to blanket our cities with high-rise apartments will not help Australian housing affordability and will reduce livability.
The reasons are simple: it is too expensive to construct apartments. As a result, they cannot be delivered at a reasonable cost to buyers.
Urbis highlighted the excessive cost of apartment development, reporting that selling prices in Australia’s largest cities rose by a record 24% in the December quarter of 2024, reaching more than $19,000 per square metre.
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