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How the housing landscape is changing
Australia’s housing landscape is changing as we try to keep up with population growth and help young buyers get into the market.
Not enough dwellings are being built, with smaller housing lots and higher apartment towers among the solutions to address both lacking supply and the affordability crunch.
As discussed in the McGrath Report 2025, a freestanding house on a quarter acre block, or 1,012sqm, used to be the norm for family living in Australia. But this scenario is rapidly moving into the rear view mirror.
Governments are increasingly wary of the high costs of delivering new infrastructure and services to support large land releases for development on the city fringes, and more buyers are looking for low-maintenance and lifestyle-rich accommodation in existing urban areas.
This has increasingly required our cities to build more on less land.
In 2023, soft consumer demand and industry capacity constraints led to a 33% reduction in the number of urban fringe housing lots being released to the market, compared to the annual average across the previous decade. In addition, the average size of these lots dropped from 481sqm in 2014 to 414sqm in 2023.
This trend towards more efficient housing will only continue, with the NSW Government announcing plans to allow townhouses, terraces, duplexes and small apartment buildings across more residential zones, and the Victorian Government promoting fast-tracked and ready-made approvals for apartment buildings up to three storeys near train stations and key centres.
In line with the same trend, Australia’s suburbs are increasingly reaching for the skies, with more apartment towers being built to accommodate population growth and provide affordable options for home ownership.
Census data shows that in 2021, apartments comprised 21.6% of homes in Brisbane, Melbourne and Sydney. This compares to an 18.9% apartment share of all homes in 2011. Between 2011 and 2021, Brisbane experienced the greatest growth in new apartment dwellings (56.1%), followed by Sydney (43.4%) then Melbourne (26.7%).
This apartment surge has led to a dramatic change to the skylines of our East Coast capital cities, with an average apartment tower height of 13.6 storeys for all high-rise buildings built between FY15 and FY24.
In coming years, middle ring suburbs in these cities will challenge the traditional supremacy of inner ring suburbs when it comes to the skyscraper stakes. The average height of all proposed middle ring suburb towers is 17.7 storeys, compared to just 16.2 storeys in inner ring suburbs.
This is a reversal of the situation across the last decade from FY15 to FY24, when towers to an average of 14.7 storeys were built in inner ring suburbs, compared to just 12.7 storeys in middle ring suburbs.
Middle ring suburbs with the highest average proposed towers will be Sydney’s Parramatta (35.4 storeys), Melbourne’s Box Hill (23.2 storeys) and Brisbane’s Indooroopilly (12.5 storeys), according to McGrath Research.
A key issue, however, is that the supply of apartments has also not kept pace with demand, due to planning delays, high building costs and shrinking developer finance. The number of new apartments built in East Coast capital cities in 2023 was 60% below the annual average of 37,380 apartments built between 2013 and 2022, although there are signs that construction has been picking up momentum since this time.
As a result, in FY24, established apartment price growth outperformed house price growth in Brisbane, Melbourne and Hobart and recorded a national increase of 6.5%, according to CoreLogic data.
This scarcity of newly built apartments in recent years will likely continue to place upward pressure on apartment prices, as more buyers turn to this housing option.
This is despite the fact that building cost escalation eased in the first half of 2024, resulting in more homes coming on to the market in line with the National Housing Accord target to build 1.2 million homes by mid-2029.
Under the Accord, long overdue reform is finally injecting more flexibility into state and local planning laws around the country. It will take time for all these changes and their benefits to play out in the market. But hopefully we will see a meaningful increase in the supply of new homes within the next few years, which should go some way to tempering annual price growth to more sustainable levels over the long term.
John McGrath CEO & FOUNDER
Ethan He
“Ethan’s leadership style emphasizes collaboration and mentorship, fostering a culture of excellence within his team. His remarkable achievements include being ranked #30 in the 2024 REB Top 50 Agents in Victoria and receiving multiple accolades in 2023, such as Agent of the Year for Clayton by Rate My Agent ”
Ethan is a dedicated real estate leader and Principal at McGrath Clayton, focused on delivering exceptional client experiences and driving team success As a long-time resident of Monash, he possesses a deep understanding of local market trends and financial drivers, supported by his Bachelor of Banking and Finance and Master of Accounting
Known for his professionalism, clear communication, and positive attitude, Ethan ensures clients are well-informed throughout the selling process, effectively engaging buyers to maximize outcomes His expertise spans residential sales, new developments, and off-the-plan projects, while his fluency in Mandarin and English enables him to build strong connections with both local and international buyers
Ethan He
0477 588 390
ethanhe@mcgrath
Available For Sale
5/8 Manor Street, Brighton 2 beds 1 bath 1 car
FOR SALE
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Agent Ethan He 0477 588 390
Jason Xi 0403 010 848
508/1060 Dandenong Road, Carnegie 2 beds 2 baths 1 car
FOR SALE
View Saturday 12.15pm - 12.45pm
Agent Ethan He 0477 588 390
Nataliya Koropets 0452 372 030
187 Elder Street South, Clarinda 4 beds 2 baths 3 cars
AUCTION Wednesday 5 March 6.30pm
View Saturday 10.00am - 10.30am
Agent Nataliya Koropets 0452 372 030
Ethan He 0477 588 390
278 Burwood Highway, Burwood Land
FOR SALE
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Agent Ethan He 0477 588 390
1/16 Truganini Road, Carnegie 2 beds 1 bath 1 car
FOR SALE
View Saturday 11.30am - 12.00pm
Agent Ethan He 0477 588 390
Nataliya Koropets 0452 372 030
31 Sundowner Avenue, Clarinda
4 beds 3 baths 4 cars
AUCTION Saturday 22 March 2.00pm
View Saturday 10.15am - 10.45am
Agent Ethan He 0477 588 390
Peter Laspas 0402 709 600
410/1060 Dandenong Road, Carnegie 2 beds 2 baths 1 car
FOR SALE
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Agent Ethan He 0477 588 390
Nataliya Koropets 0452 372 030
3/663 Inkerman Road, Caulfield North 2 beds 1 bath 1 car
FOR SALE
View Saturday 1.00pm - 1.30pm
Agent Ethan He 0477 588 390
Nataliya Koropets 0452 372 030
18 Tammany Drive, Clarinda
5 beds 3 baths 2 cars
FOR SALE
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Agent Peter Laspas 0402 709 600
Ethan He 0477 588 390
Available For Sale
1,3/17 Belmont Avenue, Clayton 5 beds 3 baths 2 cars
FOR SALE
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Agent John Mu 0433 768 151
Ethan He 0477 588 390
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Agent Ethan He 0477 588 390
Peter Laspas 0402 709 600
View By Appointment
Agent Ethan He 0477 588 390
FOR SALE
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Agent John Mu 0433 768 151
Ethan He 0477 588 390
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Agent Ethan He 0477 588 390
FOR SALE
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Agent Ethan He 0477 588 390
Jason Xi 0403 010 848
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Agent Jason Xi 0403 010 848 1987-1989
FOR SALE
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Agent Ethan He. 0477 588 390
John Mu. 0433 768 151 1987-1989 Dandenong Road,
FOR SALE
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Agent Ethan He 0477 588 390
John Mu 0433 768 151
1728 Dandenong Road, Clayton
Available For Sale
1724 Dandenong Road, Clayton 3 beds 1 bath 2 cars
FOR SALE
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Agent Ethan He 0477 588 390
Peter Laspas 0402 709 600
G24/1728 Dandenong Road, Clayton 1 bed 1 bath FOR SALE
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Agent Jason Xi 0403 010 848
3902/2107 Dandenong Road, Clayton
beds 2 baths FOR SALE
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Agent Jason Xi 0403 010 848 10 Donald Street, Clayton
SALE
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Agent Ethan He 0477 588 390
15/61-63 Kanooka Grove,
2 beds 1 bath 2 cars FOR SALE
View Saturday 10.30am - 11.00am
Agent Ethan He 0477 588 390
2/30 Evelyn Street, Clayton 4 beds 2 baths 1 car FOR SALE
View Saturday 1.00pm - 1.30pm
Agent Ethan He 0477 588 390
Catherine Chan 0478 817 198
John Mu 0433 768 151 67A Kanooka Grove, Clayton 3 beds 2 baths 2 cars FOR SALE
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Agent Ethan He 0477 588 390
Catherine Chan 0478 817 198
2B Francis Street, Clayton
FOR SALE
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Agent Jason Xi 0403 010 848
John Mu 0433 768 151
1/15 Kionga Street, Clayton
beds 3 baths 3 cars FOR SALE
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Agent Ethan He 0477 588 390
Available For Sale
SALE
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Agent Jason Xi 0403 010 848
Ethan He 0477 588 390
View By Appointment
Agent Ethan He 0477 588 390
Peter Laspas 0402 709 600
View By Appointment
Agent Ethan He 0477 588 390 Peter Laspas 0402 709 600
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Agent Ethan He 0477 588 390 John Mu 0433 768 151
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Agent Ethan He 0477 588 390 John Mu 0433 768 151
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Agent Ethan He 0477 588 390 John Mu 0433 768 151 1/17
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Agent Ethan He 0477 588 390
Nataliya Koropets 0452 372 030
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Agent Jason Xi 0403 010 848
View By Appointment
Agent Jason Xi 0403 010 848
Available For Sale
11/1474 -1478 North Road, Clayton 3 beds 3 baths 2 cars
FOR SALE
View Saturday 11.45am - 12.15pm
Agent Ethan He 0477 588 390
Peter Laspas 0402 709 600
2/17 Alward Avenue, Clayton South
FOR SALE
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Agent Jason Xi 0403 010 848
20 Renver Road, Clayton 4 beds 2 baths 2 cars
AUCTION Saturday 15 March 2.00pm
View Saturday 12.30pm - 1.00pm
Agent Jason Xi 0403 010 848
Ethan He 0477 588 390 108/90 Wellington Road, Clayton
FOR SALE
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Agent Jason Xi 0403 010 848
bed
AUCTION Saturday 15 March 11.00am
View Saturday 11.00am - 11.30am
Agent Peter Laspas 0402 709 600
Ethan He 0477 588 390 59 Autumn
bath 1 car FOR SALE View By Appointment
Agent Jason Xi 0403 010 848 234/59 Autumn Terrace,
SALE
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8/1440 Centre Road, Clayton South 2 beds 1 bath 1 car
AUCTION Saturday 1 March 1.00pm
View Saturday 12.30pm - 1.00pm
Agent Catherine Chan 0478 817 198
Agent Ethan He 0477 588 390 46 Bellavista Crescent, Clayton South
Ethan He 0477 588 390
FOR SALE
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Agent Ethan He 0477 588 390
Nataliya Koropets 0452 372 030
Terrace, Clayton South
Clayton South
Available For Sale
5/1440 Centre Road, Clayton South 2 beds 1 bath 1 car
FOR SALE
View Saturday 9.15am - 9.45am
Agent Ethan He 0477 588 390
Nataliya Koropets 0452 372 030
24 McMillan Street, Clayton South
beds 1 bath 2 cars
FOR SALE
View Saturday 9.30am - 10.00am
Agent Peter Laspas 0402 709 600
Ethan He 0477 588 390
Appt N2510/241 Harbour Esp, Docklands 1 bed 1 bath
FOR SALE
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Agent Ethan He 0477 588 390
Catherine Chan 0478 817 198
2/695 Heatherton Road, Clayton South 4 beds 3 baths 2 cars
AUCTION Saturday 15 March 12.00pm
View Saturday 11.30am - 12.00pm
Agent Ethan He 0477 588 390
Tony Huang 0466 788 452
2 Second Street, Clayton South 3 beds 1 bath 3 cars
FOR SALE
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Agent Jason Xi 0403 010 848
105/281 Tooronga Road, Glen Iris 2 beds 2 baths 1 car
FOR SALE
View Saturday 1.45pm - 2.15pm
Agent Ethan He 0477 588 390
Nataliya Koropets 0452 372 030
411/20 Lomandra Drive, Clayton South
beds 1 bath 1 car
FOR SALE
View By Appointment
Agent Ethan He 0477 588 390
John Mu 0433 768 151
123 Springs Road,
beds 1 bath 2 cars
FOR SALE
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South
Agent Ethan He 0477 588 390
Nataliya Koropets 0452 372 030
1/9 Chivers Avenue, Glen Waverley
beds 1 bath 2 cars
FOR SALE
View By Appointment
Agent Ethan He 0477 588 390
John Mu 0433 768 151
Clayton
Available For Sale
1315/803 Dandenong Road, Malvern East 2 beds 2 baths 1 car
FOR SALE
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Agent Jason Xi 0403 010 848
103/77 Poath Road,
beds 1 bath 1 car FOR SALE
View Saturday 10.45am - 11.15am
Agent Ethan He 0477 588 390
Nataliya Koropets 0452 372 030
1/4 Franklyn Street, Oakleigh East
beds 1 bath 1 car FOR SALE
View By Appointment
Agent Ethan He 0477 588 390
Nataliya Koropets 0452 372 030
707/77 Queens Road, Melbourne 2 beds 2 baths 1 car
FOR SALE
View By Appointment
Agent Ethan He 0477 588 390
Jason Xi 0403 010 848
49 Reid Street, Murrumbeena 3 beds 1 bath 2 cars FOR SALE
View Saturday 9.30am - 10.00am
Agent Ethan He 0477 588 390
Tony Huang 0466 788 452
20 Bunney Road, Oakleigh South 3 beds 2 baths 2 cars
FOR SALE
View By Appointment
Agent Jason Xi 0403 010 848
603/77 Queens Road, Melbourne
beds 2 baths 2 cars
FOR SALE
View By Appointment
Agent Ethan He 0477 588 390
Jason Xi 0403 010 848
1,2,4/41 Lawn Road, Noble Park
beds 3 baths 2 cars
FOR SALE
View By Appointment
Agent Peter Laspas 0402 709 600
Ethan He 0477 588 390
815/7 Claremont Street, South Yarra
beds 1 bath 1 car
FOR SALE
View By Appointment
Agent Ethan He 0477 588 390
John Mu 0433 768 151
Murrumbeena
3/20 Royal Avenue, Springvale 1 bed 1 bath 1 car
FOR SALE
View By Appointment
Agent Ethan He 0477 588 390
Catherine Chan 0478 817 198
2/44 View Road, Springvale 2 beds 2 baths 1 car FOR SALE
View By Appointment
Agent Ethan He 0477 588 390 Nataliya Koropets 0452 372 030
The difference between selling and celebrating.
The McGrath Sales System is a bespoke approach to selling real estate. It enables our agents to provide the information and insights you need to make informed decisions. Our aim is to deliver a seamless experience and achieve a premium result. Every detail can make the difference between selling and celebrating!