Gen Y demand sparks Brisbane's apartment surge

Generation Y are driving demand for apartments in Brisbane's middle-ring suburb of Upper Mount Gravatt for both rentals and purchase.

According to research from Urbis, the suburbs links to education, employment hubs and public transport is creating the appeal.

Urbis associate director Paul Riga said off-the-plan apartment activity in Upper Mount Gravatt had increased notably over the past 12 to 24 months due to proximity to key employment nodes, a comprehensive education offer and an abundance of established infrastructure and lifestyle.

“The Upper Mount Gravatt catchment is likely to see continued growth in the investor market spurred by the high proportion of young people residing in the area," he said.

"Generation Y was attracted to the area’s proximity to Westfield Garden City, Sunnybank, Griffith University’s Nathan and Mt Gravatt campuses, the M1, and the South East Busway.

“This youth demographic will contribute to rental demand in Upper Mount Gravatt and its surrounding catchment, with the downsizer market also potentially a contributor."

The $96 million Avion Residences, the soon-to-be launched debut project of Brisbane’s Raying Property will comprise 174 two and three-bedroom apartments across two 15-level towers in Cremin Street, which is just 200m from nearby Westfield Garden City.