20 Apr 2016

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.

The apartments are designed to appeal to the people who know and love this area, with the right mix of luxury, location and environmentally sound principles.

SKS Group is developing the six-level mixed development that will combine retail, commercial, hotel and apartments. The apartments have been designed by Campion Design Group.

The development, with views over Fremantle Harbour and Princess May Park, will offer eight three-bedroom apartments, 50 two-bedroom and 40 one-bedroom apartments.

The focus is on green, sustainable living.

“The apartments are designed to appeal to the people who know and love this area, with the right mix of luxury, location and environmentally sound principles,” Colliers International head of residential sales and marketing Daniel Crotty said.