From boutique to high-density and precinct-shaping towers, the Australian apartment market has officially entered the pandemic-property boom with stand-out projects piquing buyers’ interest.
Enquiry volumes are significantly higher than a year ago, up 33.4 per cent in April 2021, according to REA Group insights.
Meanwhile, apartment approvals had a huge monthly increase in March, up 63.6 per cent, and prices continue to rise—4.2 per cent in the quarter.
With the apartment sector heating up, here is a look at what some of the nation’s leading developers are up to prior to them joining the speakers at The Urban Developer’s Residential Development vSummit on 27-28 May.
One Subiaco, Perth
Location: 10 Rokeby Road, Subiaco
Size: 242 Apartments
Architect: Hames Sharley
Perth’s apartment market is gaining traction with units increasing in price by 1.7 per cent in March and 4 per cent in the year, according to Corelogic data.
Western Australia-based developer Blackburne has taken advantage of this with its pandemic-built Marina Waters project selling out and work starting on three other projects around Perth.
The Subiaco development features three buildings targeted at owner-occupiers with a mix of one- to three-bedroom apartments and expansive rooftop amenities.