Brisbane apartment market supply-demand imbalance unlikely

Brisbane apartment market supply-demand imbalance unlikely
Brisbane apartment market supply-demand imbalance unlikely

The Brisbane apartment market has been self-correcting and unlikely to suffer any great supply-demand imbalance, Urbis have tipped. 

The report comes Greater Brisbane faces an oversupply of 8000 new dwellings this year as scheduled completions outstrip population-driven growth in demand, research group SQM has estimated.

However, figures from planning consultancy Urbis suggested that the number of units under construction in Brisbane was dropping sharply.

The Urbis report shows that only 1812 units are under construction in the CBD across four projects. 

In 2017, some 666 units will complete, with 810 units completing in 2018, and 336 in 2019.

A drop-off in settlements next calendar year would also improve the balance, it said.

"The market will be crying out for new product in 2019. We certainly don't see any oversupply issues in the CBD," developer Consolidated Properties executive chairman Don O'Rorke said. 

Tags: 
Brisbane Apartment Market

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