According to global property consultant CBRE, Australian hotels sales have surged to almost $2 billion this year - hitting a five-year high and up from just $681 million 2020 - despite a year of lockdowns and ongoing travel restrictions.
On a quarter-over-quarter basis, Q2 2021 saw $2.3 billion in hotel transaction volume across the region, a 5.1% slide from Q1 2021. Japan, Mainland China, Korea and Australia made up the bulk of sales volume during the second quarter, says CBRE.
According to CBRE, Perth's residential market is on track to record double digit growth for the first time in 11 years - leading Australia's housing recovery in 2021.
According to Knight Frank's latest research, across the major Australian cities, development sites suitable for high-density continue to be the overall preferred option for developers.
CBRE reports that property prices in Australia's regional resource hubs have plunged by up to 74% over the past three years, as the market comes off its peak after riding the mining boom for more than a decade.