Townhouses are emerging as the next hot ticket item for investors and developers looking to capitalise on Sydney’s residential ‘boom’, amid the State Government’s push to develop the ‘missing middle’ of NSW’s housing sector.
CBRE’s Xavier Rahme said over the past nine months, investor demand had shifted from apartment development sites to those that could accommodate townhouse projects.
“Sydney’s housing sector is significantly undersupplied in the middle market, which is driving investors and developers to secure parcels that can capitalise on this untapped area of the market,” Mr Rahme said.
“The NSW Government’s recently launched Missing Middle Design Competition highlights the emphasis on this important sector of the market – with a shift away from apartments to medium density development.”
Highlighting the increased demand for developable townhouse stock, CBRE has transacted more than $48 million across five recent property sales throughout metropolitan Sydney.