Meriton enjoys a booming start to 2022
Meriton has enjoyed a booming start to the new year with strong sales enquiries last week converting into large transactions this week. The most pleasing aspect so far is that all areas are experiencing strong demand, and as rents continue to increase, many tenants see this as an opportune time to move into home ownership.
Prices have continued to rise in many areas and the market seems to be accepting the increases. It’s been a few years since apartments experienced serious growth and the gap between houses and apartments seems likely narrow in 2022 for 2 main reasons.
1.Commencements of attached dwellings (mainly apartments) – dropped 15.8 per cent in the September quarter which will further restrict supply at a time when the market is wanting more.
2.The re-emergence of overseas students, investors chasing stronger yields and migrants back into the country.
Meriton Founder and Managing Director Harry Triguboff says Meriton is shifting the focus to large apartments with parking spaces, “We are now concentrating on bigger 2 and 3-bedroom units with car park because there is a big demand and very little supply.”