Thousands of approved housing projects on hold in Australia as construction costs soar

Apartments and townhouses most affected, as developers opt for detached housing builds that offer much less uncertainty'

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Developers are holding off building tens of thousands of homes across Australia, despite already gaining planning approval, largely because of surging construction costs, with apartments and townhouses the majority of those shelved.

The problem is most pronounced in Victoria, where paused housing projects have almost doubled, according to analysis by KPMG.

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