DM Property ADM, Assem Labib, shares insights from the recent UDIA research event focused on the Apartment market in Victoria;
“The current trajectory of Victorian apartment development is insufficient to meet future demand and the pipeline for new apartments is shrinking, with significantly fewer projects planned compared to previous years. There is also critical need to increase the number of projects in early planning stages and to almost double the current annual approval rates to avoid a shortfall of 52,800 apartments by 2029.
Immediate action and policy improvements, such as addressing the approval process and revising stamp duty, are essential to ensure Victoria can meet housing needs, maintain affordability, and support economic growth in the long term”.
Our project, Motif, is one of a limited number of apartment projects in Victoria that has commenced construction this year and due for completion late-2025.
Find out more at motifgeelong.com.au.
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