Brisbane high-rise apartment sales down 31% in May quarter: Midwood

Brisbane new high-rise apartment sales fell 31% in the May quarter, with 128 sales recorded compared with 186 in the February quarter, according to the latest Midwood Report.

The total number of apartments for sale also fell to 1,227, the lowest level since November 2010.

The report notes that the current sales rate is in line with average sales rate over the past 12 months.

Three projects dominated sales – Metro Property’s Madison Heights project in Bowen Hills; the big Hamilton Harbour project being co-developed by Devine and Leightons and FKP’s The Milton in the inner west.

Here’s a breakdown of the top six high-rise sellers in Brisbane during the months of March, April and May:

The number of apartments sold in Metro’s Madison Heights development in Bowen Hills. There are 308 units in the project, with 255 sold to date. The median price paid per square metre was $6,616.

The number of apartments sold in Devine and Leighton’s Hamilton Harbour – Riverside Hamilton development. There are 189 units in the project, with 127 sold to date. The median price paid per square metre was $6,831.

The number of apartments sold in the Metro Pearls Brooklyn on Brookes project in Fortitude Valley. There are 216 units in the project, with 88 sold to date. The median price paid per square metre was $7,761.

The number of apartments sold in the FKP’s The Milton project in Milton. There are 298 units in the project, with 145 sold to date. The median price paid per square metre was $7,244.

The number of apartments sold in the Laing O’Rourke/Trident Corp McLachlan & Ann (M&A) project in Fortitude Valley. There are 234 units in the project, with 172 sold to date. The median price paid per square metre was $7,692.

The number of apartments sold in the Metro Property Development The Chelsea project in Bowen Hills. There are 195 units in the project, with all sold. The median price paid per square metre was $7,087. The project settled in February.