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 Q2:
- In Q2 2024, owner-occupiers continued to influence off-the-plan apartment sales, accounting for 56% of national transactions.
- In Q2 2024, the apartment pipeline showed positive momentum compared to long-term quarterly averages. Notably, there was a 20% increase in projects starting presales and a 26% rise in approved apartments for developments.
- With over 20,000 apartments under construction and scheduled for completion in 2024, it will be interesting to monitor if the number of deliveries in the remaining two quarters exceed the five-year quarterly averages.
- In Q2 2024, the median weekly rent for new apartments stabilised at $700, unchanged from Q1 but still 4% higher than in Q2 2023.
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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