Australian Apartment Market Overview Q3 2024
The Q3 2024 Australian Apartment Market report provides the latest on the outlook and analysis of the very mixed conditions across the apartment market.
- Leigh Warner
- Aryan Sheth-Patel
The new apartment market remains divergent. Investor interest is slowly rising but is still muted, leading to slow progress on large-scale projects and moderate apartment supply pipelines across the country. In contrast, high-end boutique apartment projects are experiencing stronger demand in all markets, primarily from downsizers who are less affected by rising interest rates.
The main concern for the market's medium-term outlook is whether new apartment construction can keep pace with rapid population growth and increasing underlying demand. While developers are eager to build, the development landscape remains challenging, with project viability continually tested by cost uncertainties.
