High-density residential approvals in Perth have fallen by more than 60 per cent during the past two quarters.
According to the Urban Development Institute of Australia’s (UDIA) latest survey of the Perth and statewide residential markets, the March 2005 quarter repeated the decline of the previous, December 2004, quarter in the high-density sector.
The UDIA defines high density as including flats and apartments, while medium density habitations – which showed a 9 per cent rise in approvals, from 597 to 615 units, between the quarters – are defined as semi-detached, row or terrace houses, townhouses or duplexes.
“Perth metropolitan high-density dwelling approvals for the March quarter were down by 34 per cent,” the UDIA report says.
“This is the second quarter in a row where a significant decrease in high density building approvals has occurred.
“There was a 31 per cent decrease in the December quarter from the September quarter.”
Metropolitan high-density approvals between the past two quarters fell from 425 to 277 units.
In value, the high-density sector fell from $121.7 million to just $47.3 million between quarters.
High-density construction is now significantly below the value of the medium-density sector, which for the latest quarter reached $75.3 million, up from $59.6 million on the December 2004 quarter.
The UDIA has judged the medium-density sector as having shown reasonable growth since September 2004.
“The City of Stirling had 101 building approvals for medium density dwellings in the March quarter, followed by Swan and Mandurah with 72 and 70 approvals respectively,” the UDIA report says.
The Perth CBD, nearby Vincent, and Rockingham, were the locations with the largest number of high-density approvals during both quarters.
CBD approvals for the December quarter were 179.
This rose to 219 for March. Rockingham had 74 approvals in December and 18 for March, while Vincent’s approvals were 16 and 19 respectively.
Medium-density approvals were led by Stirling, with 134 during the December quarter and 101 in March.
The next major authority was Swan (53 and 72 respectively), followed by Canning, with 72 in the December 2004 quarter and 70 in March, followed by Mandurah with 14 in December and 70 for March.
Cockburn also showed a solid performance in both quarters – 27 in December, and 37 in March.
