After experiencing slowing sales throughout 2017, Sydney’s new apartment market was prepared for a more subdued 2018. Urbis’ latest Apartment Essentials report, Australia’s most comprehensive new apartment survey, explains.
Over the course of the year, there were some high-profile apartment project launches, but aside from these stand-outs, many developments couldn’t seem to penetrate the market.
Alex Stuart, Associate Director at Urbis, said, “We saw a softer market in 2018. Available stock is experiencing a historical low and sales are dropping as a result.”