Australian Property Investor Magazine

While the Perth apartment market has moderated in recent years, the demand for apartment living is still growing as young couples, downsizers, and interstate and overseas migrants look for appropriate accommodation.

The interest in the high-density market in Perth is from both owner-occupiers and investors looking to enter the tightly constrained market.

Apartment sales have slowed due to a range of factors, not least a lack of supply due to the limited viability of new projects during extreme worker shortages and material cost escalations, that are limiting the rollover of capital to allow developers to commence new projects.

Given that new apartment projects are potentially being shelved due to the challenges associated with getting them to market, UDIA WA has written to WA State Treasurer and Premier Mark McGowan with a recommendation to help boost buyers’ ability to purchase apartments and offset construction cost pressures.

To read the full article written by UDIA WA CEO Tanya Steinbeck, click here.