The strata office market trends in 2014 have remained somewhat similar to the results in 2013. Over the last year, historically low interest rates have sustained property demand—especially residential— for local investors, whilst the fall in the Australian dollar has continued to draw in foreign purchasers, particularly from Asia.
In spite of a more favourable economic climate, average strata sale prices in 2014 were recorded at $661,173 —only a slight rise of 3.1% from the previous year. In contrast, 183 sales were recorded for the year—38.2% below the peak in 2007. Conditions faced in the strata market are trending below pre-GFC conditions— however are recovering steadily since the trough of 2011.
Source : Knight Frank