National Apartment Market Overview 3Q21
The apartment market recovery should gain momentum in 2022, with demand boosted by borders opening and supply levels falling further.
- Leigh Warner
- Hollee Hart
Demand for quality owner occupier stock, particularly from downsizers, has been strong in most markets for some time, but investor demand has also increased to some extent in most markets. Market balance in the apartment market is likely to tighten significantly. Supply levels continue to fall in most markets and at a national level will remain moderate for a least a few years yet. On the demand side, price growth is already attracting more investors, borders opening will be a boost to demand as students and migrants return, while a very wide price differential to detached housing may also push more demand towards more affordable and abundant apartment stock.