The popularity of medium density housing has seen a rapid increase in South Australia, according to a recent Bankwest Housing Density Report.
The report revealed that 24.5 percent of South Australian home approvals last year were for units, townhouses and semi-detached houses compared to 19.7 percent in 2012.
The percentage of medium density dwelling approvals has seen a steady increase over the past 12 years, showing a clear long-term trend of Australians turning to medium density homes.
“South Australia experienced a significant property boom in the ’80s, which drove up the number of medium density housing approvals. Since then, property has recovered slowly, in part due to a lower than average population growth in South Australia, which has grown by by only 15.2 percent since 1992 compared to the 33.1 percent national average,” said Mark Reid, Bankwest’s executive general manager of retail.
In South Australia, Adelaide accounted for 97.5 percent of medium density approvals over the past two years.
This is good news for those looking to purchase property in Adelaide – the prospect of housing availability will increase as approval for medium density housing projects continues to rise.