According to The Australian Financial Review, prices for newer apartments could jump by more than 20 per cent by the end of 2026, fuelled by lower interest rates and shrinking supply, according to CBRE.
Rents are also predicted to increase by 25 per cent in total over the next five years as vacancies tighten. Sameer Chopra, CBRE’s head of research, Pacific, said the high costs of construction and shortage of new apartments would justify the expected rise in new apartment values, supporting the typical premium in price over older apartments. “Apartment values have not kept pace with construction costs in the past five years,” he said. “That disparity is currently at 23 per cent. We expect this gap to close out and revert to a premium. https://www.afr.com/property/residential/newer-apartment-prices-to-climb-by-23-per-cent-by-2026-20241003-p5kfnv
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