Brisbane apartments still a hot prospect, says Raine & Horne

Brisbane apartments still a hot prospect, says Raine & Horne
Brisbane apartments still a hot prospect, says Raine & Horne

Apartments in inner-city Brisbane continue to attract significant investor interest.

Local buyer interest in the south-east Queensland property market remains strong, according to Raine & Horne.

The latest data from realestate.com.au shows the median apartment price in the Brisbane LGA was $495,000, as steady growth continues throughout the southeast corner of the state.

“It’s long been talked about that the stream of apartments coming into the Brisbane market would result in a situation of oversupply, but from what we’re seeing, this isn’t the case,” said Steve Worrad, general manager, Raine & Horne Queensland.

“In fact, the smart money from both local buyers and interstate investors is snapping up quality apartments within a few kilometres of the Brisbane CBD.”

The Real Estate Institute of Queensland (REIQ) reports that Brisbane has a current apartment rental vacancy rate of around 3.3 percent, citing continuing strong interest from investors and owner-occupiers for new apartments.

The agency has an apartment at 8125/191 Constance StreetBowen Hills (artist's impression) up for resale off the plan for December 15 auction.

8125/191 Constance Street is located in the architecturally-designed, The Tower on the Green, listed through agent Robyn Thomas of Raine & Horne Ascot who says the apartment will be ready for occupation in January 2016.

 

 

Tags: 
Auctions Residential Market

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