Meriton starts the new year with a bang
Meriton has started 2021 with a bang, achieving over 30 sales in the first week of 2021. Demand for this time of year is at an all time high and confidence is growing as inspection numbers are increasing every day.
The demand for Meriton apartments remained high throughout 2020 despite COVID-19, with the leading developer achieving over 1,000 apartment sales. The trend continues into 2021 with consistent first home buyer activities on the back of ongoing government incentives. Meriton is also attracting more investors, who have now started to move back to the property market, taking advantage of historically low interest rates which have more than offset the slight fall in rents.
While buyers remain active, apartment supply is expected to drop significantly due to COVID-19 related cancellation or delay. Residential construction in Sydney is predicted to drop from 8,000 units per quarter in 2017 to just 2,000 from late 2021, while the number of launched apartments experiences a sharper decline, from 23,500 units in 2018 to 5,300 in 2020.
With the market on the rise and a COVID-19 vaccination roll out plan brought forward by the Australian government, Meriton Founder Harry Triguboff is confident in the company’s commitment to building more quality apartments for home seekers. “This is why we at Meriton keep on building because we’ve had problems before, but they have always been overcome.”