A Resurgence in the NSW Property Market is Reflecting Resilience and Renewed Confidence

For first home-buyers, local buyers and investors alike, lower interest rates have made borrowing more affordable, and this financial environment, combined with government incentives such as grants, and banks offering more attractive mortgage products, has further boosted market activity.

Australia’s biggest apartment developer, Harry Triguboff, says it is never a good idea to speak too soon, but the market is showing promising signs of growth.

“It’s very interesting that we are seeing a sense of camaraderie. Finally the government and banks are aligned in their approach,” Mr Triguboff says.

“Of course, with the volume of our sales at Meriton, we see the changes in the buyer profile immediately.

“The last month, those changes have not been subtle, and the shift is quite noticeable.

“There’s a clear upswing in first-home buyers, along with increased activity from local buyers and investors.

“Our records show that Meriton sold more units last week than in previous weeks, and the general auction clearance rate has also been high over the past couple of weeks which is terrific.”

Mr. Triguboff emphasises that the core principle remains: the buyer is always king.

“You build what buyers want or demand,” Mr Triguboff says.

“When banks were hesitant to lend, Meriton stepped in to support buyers. We still do, but it’s encouraging to see banks becoming less cautious and offering alternative products to help more people access homeownership.

“Since I laid my first brick, I’ve believed that all Australians should own their own home.

“Back then, banks wouldn’t lend to single women with good jobs who could easily service a loan – so I did.

“While government fees, taxes, and other costs have made building more difficult, I welcome the recent movement in the local market.

“That red tape, extra fees, and costs have often hindered progress, making ownership more challenging. We’ve always wanted to work collaboratively with all levels of government and banks. Now, as they become more inclusive of industry and buyers—with better cooperation—we’re starting to see something positive. It’s an encouraging sign that we can work better together toward shared goals.”