GCB sales rise in H2 2024 with 12 deals valued at $376m

The sales value in H2 was 61% higher than in H1.

Good Class Bungalows (GCB) sales rose in H2 2024 with 12 GCBs valued at a combined $376m transacted according to URA data, PropNex reported.

Sales value for the period is 61% higher than the $233m garnered from 10 GCBs sold in H1 2024..

According to PropNex, the actual volume of GCBs sold is likely to be slightly higher, as some deals may not have been caveated.

This includes a Jervois Hill GCB, reportedly sold for $58m in July 2024, according to media reports, though the transaction is not reflected in the data.

Meanwhile, based on caveats lodged, the top GCB deal in H2 2024 was the sale of a bungalow in Cluny Hill for $52m in July, reflecting a unit price of $3,434 psf on land area.

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