Australian Apartment Market Dynamics Q2 2024
The Q2 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 is low, leading to slow progress in large-scale projects and a limited supply of apartments nationwide. However, there is strong demand for high-end boutique apartments across all markets, driven mainly by downsizers who are less affected by rising interest rates.
A significant medium-term concern is whether new apartment construction will be sufficient to meet the rapidly growing population and demand. While developers are eager to build, they face a challenging environment where project feasibility is hindered by cost uncertainties.
