Australian Apartment Market Overview Q1 2024
The Q1 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
Conditions in the new apartment market remain divergent. Investor demand remains subdued, resulting in limited progress in large-scale projects and thin apartment supply pipelines nationwide. However, demand remains robust for high-end boutique apartment projects in all markets, primarily driven by downsizers who are less impacted by higher interest rates.
The major medium-term concern for the market is the adequacy of new apartment construction levels to meet the fast-growing population and demand. Developers are keen to build, but the development environment remains a challenging one where project feasibilities continue to be tested by cost uncertainties.
