11% fall in Adelaide house building18 November 2015 by News Desk
There’s been a fall in the number of houses being built in Adelaide in Australia but a rise in the number of units under construction.
During the first nine months of this year 4118 houses have been approved for construction in the city, a fall of 11.5% compared to 2014.
While house building has slowed, construction of units has increased. A total of 2,291 units were approved for building over the first nine months of 2015, a 18.3% increase compared to last year.
Construction of houses and units in Adelaide fell in September with a total of 760 dwellings approved for building, a fall compared to the number of approvals recorded in the same month in 2014, according to latest figures from the A.B.S.
The total number of new homes in Adelaide approved for construction in 2015 is 6,409, a fall of 2.7% compared to 2014.
Darrell Todd of thinkingaustralia says: “A lot of new apartments are now coming onto the market in Adelaide and the growing supply will lead to lower prices and lower rents over the coming 12 months.”