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Spike in Medium Density Dwellings for Melbourne

By Jamil Allouche

Melbourne is rising ahead of state and national averages when it comes to medium density housing, according to a February 17 report from Bankwest.

Areas in Melbourne such as Pascoe Value and Brunswick are often selected for their access to amenities and local transport infrastructure, while property in Carlton is popular for such reasons too.

In the last 12 months, Victoria saw 23,390 medium density approvals.

This figure is more than double that of five years ago, when 11,164 approvals of this kind were granted.

Bankwest noted that Melbourne has beat out the state average, with 28.9 per cent of existing housing stock being medium density.

Statewide, this figure is 23.5 per cent. The average of all capital cities is 27.6 per cent.

Those looking to sell their townhouses, units or semi-detached real estate in Brunswick or Carlton may be in a good position to do so, given the obvious popularity of this dwelling type.

The proportion of  medium density dwellings – compared to other residences – has increased in Victoria too. 

In 2013, 45.6 per cent of approvals in the state were for this dwelling type, compared to just 27.4 per cent 20 years ago. 

Contact Ray White Brunswick if you're looking to secure the perfect home or sell your Melbourne real estate. 

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