Home building in Victoria is at its lowest rate in 30 years

Just after I highlighted the Victorian government’s plan to massively increase densities to pay for rail expansion, @JoshGordon reports in @TheAge that home building in the state has dropped to the lowest levels in almost three decades.

There were only 10,852 house, townhouse and flat construction starts in Q2 2023 which is the lowest since 2009 [just after the GFC] as shown in the chart.

That’s worrying for the current housing shortage and future housing needs [especially given the housing affordability crisis] and suggests to me that the future is more and more high-density strata buildings.

That’s good news for all #stratatitle stakeholders.

Read the full article here.