Unit approvals dire (except Gold Coast)

Building approvals slowed in 2023

Australia approved a fairly dismal 162,900 dwellings over the year to January 2024.

House approvals fell again in January, continuing to revert lower after the pandemic stimulus.

Looking around the capital cities, Perth is the one possible bright spot, while Melbourne is spreading a little more easily than Sydney at the city fringe. 

Unit approvals are outright tanking in Sydney and Melbourne, and to some extent now in Brisbane as well.

There have been some large tower block developments approved on the Gold Coast, but overall the trend for building approvals is very weak, and far short of what's required to hit the 1.2 million dwellings target.

It's a pretty weak outlook for housing approvals, given record high population growth.

New unit development just isn't stacking up for developers in the capital cities, and unit prices will need to rise before construction starts up again.

---

P.S. Whenever you’re ready…here are 5 ways I can help you manage your own money and go next level wealth:

1. Boom or Bust – 20 minute online workshop for investors

Register for my next free online training - Boom or Bust? How to change your investment plan - book in here

You also download a free copy of my e-book The Only 6 Ways to Become Wealthy here.

    2. Download our property buying guide

Download our free property buying guide here. 

You can also check out a few of our recent property investment purchases here. 

Get in contact with us today if strategic property investment is your thing. 

    3. Subscribe to our Top 10 Podcasts for Investors

Listen in to our podcasts

The Australian Property Podcast is one of Australia's biggest business podcasts.

And our enormously popular Low Rates High Returns Show also remains available on Spotify.

    4. Subscribe for my free daily blog

Subscribe for my free daily blog with well over 3.5 million hits here. 

You can also catch up with me daily on Twitter here, where I'm active daily and have over 13,800 followers. 

By the way, I'm a 7-times published author on finance and investing, so you can check out some of my books here. 

    5. Work with me privately

For a limited time you can book in a free diagnosis call with me here, so book in a call today.