The demand for medium density housing has increased in Australia and Melbourne is certainly joining the trend, according to Bankwest's Housing Density report, released on February 18.
Over the past 12 months, 87.1 per cent of medium density housing approvals in Australia have been from capital cities, perhaps reflecting the increasing demand to live in areas closer to strong infrastructure, schools and transport links.
It's for this reason that real estate in Carnegie and nearby Oakleigh is so popular with families and young couples.
A whopping 23,390 medium density housing approvals were granted in Victoria over the past year, demonstrating a 109.5 per cent growth rate on the figure five years prior, when there were 11,164 approvals over the same period.
An impressive 30.1 per cent of national medium density approvals – namely townhouses, units and semi-detached houses – were from Victoria.
Melbourne has been contributing to the trend, too.
While 23.5 per cent of present dwellings in Victoria are medium density, 28.9 per cent of Melbourne properties fall into this category, highlighting the increasing popularity of the uniquely liveable city – particularly Carnegie and Malvern East real estate.
Whether you're after a semi-detached house or something larger, call Matt Hurlston at Ray White Carnegie if you're looking to buy Melbourne property.