Our Development ID platform recorded $308,211,748 in sales transacted in June, marking another strong month of buyer activity. Most notably, stock priced under $500k strengthened significantly, comprising 30% of transactions - a sharp increase from just 5% in May.
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The $500k-$750k price range, previously the most active in May at 38%, dropped to 17% in June, while the $750k-$1m range emerged as the most transacted tier, rising modestly from 28% in May to 32% in June.
For stock priced higher than $1m, product in the $1m-$1.5m range experienced a modest increase from 7% in May to 11% in June, while the $1.5m-$2m range held steady at 4%. Higher-end product saw declining demand, with $2m-$3m sales dipping 2%, and $3m+ stock decreasing from 13% to just 3%.
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Off-the-plan transactions in June also revealed shifting buyer preferences by bedroom configuration, particularly toward 2-bedroom residences.
While 1-bedroom stock remained the most transacted product type, its share of total sales fell from 54% in May to 44% in June. 2-bed stock surged in popularity, increasing from 27% in May to 42% in June.
Larger dwellings saw mixed results: sales of 4-bedroom product declined from 8% in May to just 2% in June, while 3-bedroom transactions remained relatively stable at 12%, up slightly from 11% in May.
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For more information regarding Development ID, get in touch with our team here.
