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Emily Verdouw and Luke Costin

DARK SECRETS: Sydney melbourne prices fall as housing market cools | Rare Historical Photos

Sydney Melbourne Tim Lawless CoreLogic

The growth of new housing approvals needs to lift to keep up with building targets, industry says. (Dan Himbrechts/AAP PHOTOS)

A big jump in apartment approvals has pushed home-building figures to a two-year high but experts say the increase is not enough to keep up with a housing shortage.

A 4.2 per cent jump in housing approvals for October 2024 was mainly on the back of a 22.4 per cent rise in higher-density approvals, such as apartments.

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