|
Dwindling unit supply to trigger price rises Apartment supply is forecast to shrink by 73 per cent nationwide over the next two years, worsening the current rental shortage and potentially triggering price increases in some projects, new report shows. Consultancy firm Charter Keck Kramer estimates that there are 41,200 apartments under construction and being marketed across the capital cities in 2023, but these are expected to fall to 27,300 in 2024 and down to 11,100 in 2025 – a 30,100 unit shortfall over two years. In Sydney, apartment supply is set to slump by 14,500 units or 83.5 per cent by 2025, while Melbourne is expected to contract by 7900 units or 65.3 per cent. The number of apartments under construction and being marketed is estimated to fall by 87.8 per cent in Brisbane, by 78.3 per cent in Canberra and by 65.2 per cent in Perth.In Sydney, apartment supply is set to slump by 14,500 units or 83.5 per cent by 2025, while Melbourne is expected to contract by 7900 units or 65.3 per cent. The number of apartments under construction and being marketed is estimated to fall by 87.8 per cent in Brisbane, by 78.3 per cent in Canberra and by 65.2 per cent in Perth. https://www.afr.com/property/res ... ses-20230227-p5cnv4 |
