Brisbane unit market in decline: HTW
Units in Brisbane are in a declining market according to the June property clock from Herron Todd White, with apartments in Canberra, Townsville and the Whitsundays at the bottom of the market.
Melbourne, Coffs Harbour, the Gold Coast and Newcastle are at market peak.
Meanwhile south-west WA's unit market is starting to recover along with Mildura and Bundaberg.
The Gold Coast, Melbourne and Coffs Harbour were at the peak of the market last month.
In their June report for Brisbane, HTW noted some older-style Brisbane apartments may be good for investment if you are new to the market.
"These are veritable bargains at present because the oversupply of new unit seems to have had a negative flow-on to cheaper second-hand stock as well," HTW said.
"Once again, fundamentals are your friend.
"Find older units in close proximity of town and with good local transport and café facilities.
"The other great thing about renovating an old unit is that it usually isn’t expensive. A coat of paint, a spruce up of kitchen cabinetry, new carpets and some window treatments won’t cost the earth but can make a unit feel like a whole new abode."