Interest by property investors in city apartments in Sydney and Melbourne will remain strong in 2015, according to a new report from international real estate company Colliers International.
While acknowledging some uncertainty over interest rates over the coming 12 months, the report says that indicators such as unemployment, construction activity and GDP suggest a period of weaker overall economic growth, resulting in steady interest rates in the short to medium term.
The report predicts that Sydney, Melbourne and Brisbane residential markets will have the strongest residential growth, with a slowdown in development and investment activity in Western Australia in 2015.
The Melbourne and Sydney Central Business Districts are set to see the construction of 18,000 and 6,000 new apartments respectively, supported by a growing inner city population and strong overseas demand.
