The Urbis Apartment 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 Q3:
- Over the last 6 years the pipeline of apartments has more than halved, while the price per square metre has almost doubled.
- The 22,000 completions in 2024 represents a slight increase on the last two years but remains well below the 45,000 delivered in 2018.
- Over the same period, the average price per square metre has risen from $8,600 to $15,900, further fuelled by a 17% rise year-on-year from Q3 2023.
- Rents in new apartments stabilised at an average of $600 per week, up by 36% compared to 2018.
- Melbourne expanded the national stock of built BTR supply by 25%, yet 68% of future BTR projects nationally are yet to be funded.
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