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Australians priced out of dream ditch backyards for balconies

Posted on 15 January 2013

Apartment ownership is on the rise as the Great Australian Dream of a house in the suburbs fades for buyers priced out of the market. Apartments and townhouses accounted for 35 percent of new housing construction in the three months ended in Sept. 30, compared with 29 percent five years earlier and 21 percent 20 years ago, according to the federal statistics bureau.
About 13.7 percent of Australians lived in their own apartments and townhouses according to the 2011 census, compared with 12.4 percent in 2006………………………………………..Full Article: Source


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