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2017 Market Trends - Year of the Downsizers & Investors

CBRE News

7 February 2017

2016 was a strong year for the team at CBRE Residential Projects - Australia. We cleared $3 billion plus worth of apartment inventory across Sydney and Melbourne during a period which saw many macro-economic changes in FIRB lending, interest rate changes and even a national election in July.

CBRE Residential Market Outlook for 2017:

  • Luxury market under supplied, demand will continue to grow.
  • Continuing strong demand for 3 bed apartments from Downsizers and Empty Nesters.
  • 2 bedroom apartments will continue to be the most popular choice by buyers: first-home buyers and investors.
  • FIRB buyers will continue to purchase in spite of additional charges, however, they will be more particular in their choice of property (ie. flight to quality)

 

Sydney Market:

  • Affordability continues to drive buyers west – expect strong growth in Merrylands, Granville and Lidcombe.
  • Sydney CBD will continue to show strong growth as a higher number of buyers embrace “City Living”, especially on premium sites. 

 

Melbourne Market:

  • Trend towards Owner-occupier market – the demand for high quality, large luxury apartments is higher than ever before.
  • The State government are pushing to support the local buyer with taxes on international purchasers and no stamp duty relief for investors.
  • Blue chip suburb development market still strong i.e. Hawthorn, Camberwell & Kew. 

 

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