Key Market Developments:
Perth led annual apartment price growth at 23.8%, followed by Brisbane (17.7%) and Adelaide (14.5%). Sydney and Melbourne posted more modest gains of 5.1% and 4.0% respectively. Rental growth patterns shifted, with Sydney (4.2%) now outpacing Melbourne (3.6%) for the first time in over two years, while Brisbane maintained the strongest growth at 8.3%.
Over 160,000 apartments are tracked across major markets through to 2030, with approximately 59,000 under construction. However, persistent construction cost inflation and feasibility challenges continue constraining delivery.
Outlook:
While near-term caution prevails, structural fundamentals remain supportive. Elevated population growth of over 310,000 through net overseas migration and persistent housing supply shortages continue underpinning demand. The key risk remains whether negative sentiment becomes self-fulfilling.
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