Downsizers Underwrite Perth Apartment Resilience | DevelopWise | Perth luxury apartment developer

Owner-occupiers, particularly downsizers, are driving Perth apartment sales, with 339 apartments worth $214 million sold in the second quarter.

Urbis director David Cresp said despite Perth’s overall slower residential market, the apartment sector appeared resilient with second-quarter sales slightly lower than for the same quarter a year ago (348) but well above the 307 quarterly average for last year.

The latest Urbis Apartment Essentials survey revealed 67 per cent of second-quarter buyers were owner-occupiers, up from 65 per cent last quarter, which was also a record.

“This is the highest proportion of owner-occupiers we have recorded since the survey started in 2014,” Mr Cresp said.

The top-selling projects, including The Towers at Elizabeth Quay, Aston238 in Leederville, AIRE in West Perth and The Beach Shack in Scarborough were being bought up by downsizers. Almost half of the sales were for apartments Urbis deemed “luxury”.

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