Apartment sales in Brisbane are surging 55 per cent year on year, they are up in Sydney with a 20 per cent gain and are crawling along at 9.7 per cent in Melbourne, where the state government announced stamp duty cuts last month to get unsold stock moving.
For the construction sector that powers much of the country’s economy, the current sales volumes, seen in data provided to The Australian Financial Review by CoreLogic, are a crucial pointer to where the pipeline of future apartment development lies.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
