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Apartment Affordability Drives Record Completions

23 Apr 2017 Burleigh 0 Comment

A major trend in the Australian property market over recent years has been the growing popularity of apartment living. This trend is underlined by the fact that during the December 2016 quarter, the number of new apartments completed in Australia outnumber houses for the first time – 28,527 new units compared to 28,102 new houses.

The growing love affair with this style of living is being driving by is being two key factors – apartment affordability and demographics.

For many young property buyers, apartments offer a very affordable entry point into the Australian property market especially in the boom markets of Sydney and Melbourne.

Renting an apartment is also more affordable to renting a house and this economic reality has resulted in a growing number of property investors decided to buy off the plan apartments because they know there will be a strong rental demand for this type of property.

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