Rates Falling – Demand Soaring
This week’s decision to reduce interest rates by 50 basis points will add further upward pricing pressure to an already buoyant residential apartment market. Meriton is currently exceeding sales expectations on all our developments with prices increasing, even before this week’s rate cut.
With Building Approvals falling by 7.8% to reach their lowest level in nearly three years, these constant falls will continue to drive up rents, offering investors higher returns in an already tight rental market which boasts record low vacancy rates.
As a result, Meriton is eager to bring forward the release of its latest acquisitions. In the next few weeks, Stage 2 of the highly popular Epping Park will be released, as Stage 1 is just about sold out. Meanwhile, plans for our latest acquisition Macquarie Residences in Macquarie Park are nearly finalised and a release is anticipated for early June. Closely following is Chatswood Tower, scheduled for release in the 3rd quarter of this year.
Through our dedication to our clients, many of which continue to return to purchase more apartments, Meriton has become the largest property developer in Australia. Our size and financial stability enables us to provide our purchasers with the widest choice of developments whilst guaranteeing completion on every development. The ability to buy land, build, develop and sell eliminates expenses and delays other developers would normally incur, providing our purchasers with the best value possible.
Each apartment presents a winning formula of cleverly designed layouts and world class finishes. The superior level of quality and finish in each apartment is a testament to the dedication of a developer who is constantly meeting market demands while striving to be at the forefront of luxury living.