20 April 2016
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WA is on track to build a record 77 new apartments each week next year, up from 58 each week this year, according to property consultancy, Urbis.
Director of economics and research at consultants Urbis, David Cresp, said the market was on track to deliver about 3000 apartments this year — similar to the 2015 volume — but would peak next year at 4000 apartments.
Mr Cresp rejected claims of a looming apartment glut. He said less than 20 per cent of Perth’s dwellings were apartments, while 58 per cent of new dwellings in Sydney, 36 per cent in Brisbane, and 43 per cent Melbourne are apartments.
It comes as significant new development hits the market, with the 100-apartment, $120 million new Ancora development in Fremantle.