The Urbis Apartment Market Essentials is the most comprehensive national apartment survey in Australia and the only survey where sales data for apartment projects with 25 or more units is collected at the time of contract rather than at settlement.
Our brightest minds analyse the data quarterly to provide you with the latest market activity and future supply pipeline. Discover more apartment trends in our National Apartment Essentials Snapshot.
Snapshot 2024 Q1:
- In the year to Q1 2024, the price per square metre increased by 26% for projects in presales and under construction, reflecting increasing asking prices and changes in buyer preferences.
- Owner occupiers continued to lead off-the-plan apartment sales, accounting for 52% of national transactions in the quarter. The Gold Coast was the only city to buck this trend, with 41% of sales going to interstate investors.
- Of the nearly 52,000 build-to-rent (BTR) apartments in the national pipeline, approximately 33% are built or under construction. Of the remaining pipeline, which includes projects in development approval, application and development sites, only 27% of projects are funded.
- The median weekly rent for new apartments increased by 3% in Q1 2024, finishing 8% higher compared to a year ago.
Want to know more? Click on the thumbnail to read the full report.
Get in touch with one of our local, on the ground, team members today to discuss what’s happening in your market.
Victoria – Mark Dawson and Dylan Gray
New South Wales – Alex Stuart
Queensland – Paul Riga, Monique Ryan and Lynda Campbell
Western Australia – David Cresp