Urbis’ Sydney Apartment Essentials recorded steady sales in the September 2019 quarter, after a significant boost in the previous June quarter.
There were 144 sales recorded within the sample. According to Mr Alex Stuart, Associate Director of Property Economics at Urbis, 57% of the sales that were recorded were in recently built stock, highlighting the strong interest from owner-occupiers who prefer buying tangible product that they can move into quickly.
“When the market was booming, buyers had to get in early and purchase their apartments in the pre-sales stage,” Mr Stuart said. “Now we are seeing a bit more competition, and the availability of built product means buyers can try before they buy.”