Sydney Apartment sales have continued to slow in Q2, according to Urbis’ latest Sydney Apartment Essentials report.
The report, which monitors 200 apartment developments across Sydney’s inner to middle ring, logged a survey response rate of 20 projects. From this, 44 sales were recorded of a total of 1,154 new apartments on the market in Q2.
Despite the slowdown, developers are still showing confidence with 1,150 new apartments, across five developments, launched in Sydney during the June Quarter. Nine projects comprising 1,500 apartments began construction during the quarter and a further 28 projects were settled.
Alex Stuart, Associate Director Property Economics and Research, said, “Barangaroo South is front of mind with registrations opening for its 71-storey tower, One Sydney Harbour. We expect this high-profile project to launch later in the year, showcasing its 360 premium apartments to global investors.”