Urbis’ Sydney Apartment Essentials recorded 180 sales from a sample of 17 per cent of the market in Q2 2019, an almost 100 per cent increase from the previous quarter which reported 93 sales.
“The results reflects early signs of growing confidence in the market following the State and Federal elections as well as the relaxation of lending regulations that have made it easier for buyers to secure finance” Alex Stuart, Associate Director at Urbis said.
“The new apartment market in Sydney has had some negative attention in the press lately,” Mr Stuart said. “However, from our research, the appetite for new apartments in central locations is still there. Sydney is somewhere where people want to live, and the re-election of the Coalition, especially considering their attitude towards negative gearing, helped lift buyer confidence this quarter.”