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Housing Demand in Sydney Sees Record Medium Density Approvals

By Louise Morrin

Homeowners interested in edging their way in on St George real estate may be interested by recent figures relating to medium density housing in NSW.

Townhouses, units or semi-detached homes are an increasingly popular option for Australians and the latest Housing Density Report released by Bankwest on February 17 shows that NSW is leading the trend.

NSW medium density approvals led by Sydney

Approvals in the state have surged ahead of those in Victoria. A whopping 34 per cent of national approvals for this dwelling type were from NSW alone during 2013, with Victoria's proportion dropping to 30.1 per cent. 

In the previous year, NSW approvals captured 31.3 per cent of national medium density dwelling approvals.

"The trend is pronounced in Sydney with the capital contributing an incredible 90.7 per cent of NSW's total medium density housing approvals for units, townhouses and similar dwellings in the last 12 months," noted Bankwest Executive General Manager, Retail, Mark Reid.

Sydney and NSW medium density leaders

Not only is NSW gunning ahead when it comes to approvals and future home growth, but it's clear that there is an established trend for this dwelling type.

Almost a third (31 per cent) of current NSW dwellings are medium density properties. This figure glides ahead of the 24.7 per cent national average.

In Sydney alone, an impressive 40.6 per cent of dwellings are medium density, perhaps reflecting the growing pressures of demand to live in the city, particularly property in St George.

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