The owners of 2037 apartments in Melbourne and of 2282 flats in Sydney intend to list their property, potentially flooding markets grappling with oversupply and poor demand because of border closures, a survey conducted by Digital Finance Analytics shows.
Not enough buyers
But most landlords will still struggle to offload their property because of the perceived risks of high-rise apartments and preference for standalone homes.
“While we’re seeing some investor interest return to inner city areas it is unlikely to be as strong as it has been in the past,” said Mr Kusher.
Net demand for Grade A office space in the CBD reached 215,000 sq ft in the third quarter, according to data from commercial real estate services firm Cushman & Wakefield on Thursday (Oct 7).
The advance was led by Marina Bay (1.6 per cent quarter-on-quarter growth), Raffles Place (0.3 per cent) and Shenton Way/Tanjong Pagar (0.1 per cent).
Rents for Grade A office space in the CBD grew for the second consecutive quarter, rising by 0.5 per cent quarter on quarter in the third quarter.