Apartment shortage looms as building slows

Buyers missing out on houses or worried about affordability in Australia’s roaring property market can still find great value in well designed and located apartment developments in Brisbane and Melbourne.

CDL Australia’s Brickworks Park project in Brisbane and The Marker development in Melbourne feature innovative large floorplans and superb resort-style amenities, offering a world-class lifestyle for a fraction of the cost of surrounding houses.

However, buyers should act quickly after a leading property group forecast a looming national shortfall in new apartment projects.

Shortfall across the country predicted

Despite a continuing supply of well-positioned, high-quality apartments being more important than ever, the national pipeline is slowing to a trickle.

According to new research from the Urbis Apartment Essentials report, in three years the number of new apartments being launched will only be a quarter of the level in 2018. Already the number has dipped from 5,000 in late 2019 to 3,250 in early 2021.

The report is based on projects being monitored in Brisbane, Sydney, Melbourne and the Gold Coast.

Urbis director Mark Dawson has been reported as warning that “we are currently at a stage where demand is about to overtake supply nationally.”

“It is clear the new apartment pipeline is grinding to a halt,” he said. “At this point the next four years are looking far leaner than the previous four years from a settlement pipeline perspective.”

The real tipping point will come, however, when the opening of borders and an uptick in international investment provides another boost.

Everything you can do in a house

“Everything you can do in a house, you can do at Brickworks Park.”

The simple ethos has been the guiding design principle behind one of the most exciting and innovative apartment and townhome developments ever conceived in Brisbane.

Offering more liveability than standard unit living, Brickworks Park is located only 5km from the Brisbane CBD and close to two train stations and numerous schools and shopping centres

The first stage has 107 apartments and 25 townhomes in a low density setting with 43 per cent open space, a resort-style pool, dining pavilion, gym, dog park, art studio and workshop.

At almost 5 hectares, Brickworks Park is a whole new neighbourhood surrounded by established houses that can easily cost twice as much as a new apartment or townhome.

The Marker, positioned in the heart of Melbourne’s revitalised western city fringe meanwhile, is set to become one of the statement pieces of the historic neighbourhood.

Complemented by creative green spaces, the eight-level architectural landmark will be unrivalled for convenience with a wide selection of ground-level cafes and retailers along with a tram at the door to carry you into the heart of the city, North Melbourne and the Docklands within minutes.

Additionally, an extra advantage to buying into either project is that you are buying off the plan – meaning you can lock in today’s prices while your brand new apartment is being built.

TO FIND OUT MORE ABOUT CDL’S NEW RESIDENTIAL PROJECTS IN AUSTRALIA, VISIT OUR PROJECTS PAGE.