Melbourne Apartment Boom Set To Continue

Market Insights
9 years ago
1 minute

Melbourne's apartment boom shows no sign of stopping. Approximately 42,220 apartments will be built in Melbourne over the next five years, which will be 45 per cent of the national total, according to a report from independent consultancy firm Charter Keck Cramer. The figures exclude serviced apartments or full-time student accommodation.

Between 2010 and 2014, Melbourne apartments account for 48 per cent of the national total. During the same period, Sydney had 35 per cent share with 2250 apartment completions.

Charter Keck Cramer forecasts Sydney will see 31, 850 dwellings in the next five years.

Brisbane completed 8100 apartments, or 9 per cent of the national total in the five years to 2014. The firm forecasts this to grow to 13,050, or 14 per cent of the total in the next five years.

The firm says that Melbourne's growth is accelerating in areas beyond the CBD, with middle and outer Melbourne suburbs like Doncaster, Glen Waverley and Oakleigh gaining apartments

**originally published on www.therealestateconversation.com.au**