Apartment shortfall by 2020

Property analysts Urbis have predicted that there will be an apartment shortfall in Perth by 2020.

Urbis director of economics and research David Cresp recorded sales of 341 apartments worth $200 million-plus for all of Perth in the three months to September 30, down from 390 in June quarter, and dramatically below the 644 a year earlier.

“Sales are well down but new project launches have also been well down — the only project launched in the September quarter was LKD Developments’ 9 Tully, at 9 Tully Road, East Perth,” Mr Cresp said, adding that, ironically, the proportion of sales to launches was actually stronger in the third quarter of this year.

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