Young people are building up, not building out

Last year, a record 10-thousand townhouses and apartment buildings were signed off across the country.

First home buyers are showing a growing preference for new joint housing, over standalone homes that need a bit of doing up.

One Roof property commentator Ashley Church says it's a price phenomenon.

He says it won't be unusual for an apartment to be the first home that young people buy - which could be an issue in 15 to 20 years.