HTW warns Brisbane first time buyers against second hand units

In a break from previous years’ advice, HTW is advising first home buyers in Brisbane to also be careful when buying well located second hand units, according to its February 2017 update.

The valuation firm says this type of stock in the Queensland capital usually offers an affordable option in a great location, and despite moderate capital gains, good tenant demand ensures mortgage servicing with little stress.

“There is, however, a very real oversupply risk looming for investor units in our city as new stock struggles to find demand,” the firms says.

“This is having a negative flow on to our traditionally solid second-hand unit market.

“If you buy investor-grade unit stock in particular – new or old – please tread with caution in 2017.” 

A two bedroom unit at 43/82 Boundary Street, Brisbane City (above) has been listed for $659,000.

Similarly a two bedroom unit at 96/26 Felix Street, Brisbane City (below) has been listed for over $535,000.