Downs & Ups in new strata building approvals

Strata Snaps: May 06, 2021: Another short sharp pointer to interesting strata stuff …

In January and February 2021, everyone was worried about the decline in new strata building approvals [see Strata Snaps; 04 March, 2021].

But, fear not, the March 2021 numbers from the Australian Bureau of Statistics show a sudden and major reversal.

They show that there were 8,563 new strata dwellings [that’s apartments and townhouses] approved around Australia in March 2021.  That’s a massive increase over the last 3 months [a 63.6% icrease] and matches 2018 numbers [but not the record highs between 2013 and 2018].

The chart below shows the trends since 2006 and recent drop and bounceback.

Maybe this is a blip correcting for lower numbers caused by Covid-19 and will settle back down, or, maybe it’s the beginning of the next wave of strata building development.

So, let’s keep watching this space.

Thanks … @ABSStats

May 06, 2021

Francesco …