Brisbane apartment insights: What happened to Brisbane apartment values in September?
Brisbane apartment values continued to grow over September, figures from the property data firm CoreLogic found.
In their monthly index, CoreLogic found that Brisbane values rose 0.6 per cent over September.
It was a return to a normal growth pattern for Brisbane, following a 1.4 per cent growth spike over August. Prior to the spike, there were 0.8 per cent gains in July and 0.7 per cent gains in June.
The 2.8 per cent rolling quarterly gains, more than double the gains seen in Melbourne, see values 8.3 per cent higher than at the start of 2021.
Back then the median value was $390,000. Now it's $430,000.
The price gap between houses and units in Brisbane however has widened, with Brisbane's median house price standing at $709,000, around $280,000 higher than the median apartment price.
New listings in Brisbane are slowly on the up ahead of the traditional listing increase in spring. The same can be said for Adelaide, Perth and Hobart, however the trend remains weak in the locked-down Sydney, Melbourne and Canberra.
Queensland has benefitted from record low vacancy rates, with southern state dwellers heading north during the pandemic over 12 months ago.
The June 2021 quarter data from the Real Estate Institute of Queensland showed that nearly two thirds of local government areas in Queensland recorded their lowest or equal lowest residential vacancy rates since 2010.
Of the 35 local government areas, 20 saw their vacancy rates tighten, 10 remained static and five saw them slightly rise in the June quarter.
Brisbane’s vacancy rate dropped from 2.1 per cent to 1.7 per cent from the previous quarter. The Gold Coast’s remained static at a tight 0.6 per cent and the Sunshine Coast’s was slightly higher, from 0.5 per cent to 0.6 per cent.
Urban's top Brisbane projects
1. Trellis, South Brisbane
Aria Property Group are a decorated Queensland developer who have continued to improve sustainability across their South East Queensland residential apartment developments with their newest tower, Trellis.
Described as both the most sustainable and livable to date, all 110 of the two and three bedroom apartments in the 12 story building have been designed by Rothelowman.
Reminiscent of an urban retreat, Trellis reflects a new style of resort living with 1,119 sqm of recreational amenity across the Temple of Wellness on the ground floor and the Residents’ Rooftop Club on level 13.
Apartments in Trellis start from $739,000 for a two-bedroom, two-bathroom apartment. Three-bedroom apartments are priced from $1,084,000 to $1,224,000.
2. Bide, Newstead
Bide is the latest Newstead residential offering by Dibcorp Properties. It has been designed in collaboration with architects from Twohill & James, Lat27 and Wiltshire Stevens Architecture.
It presents a new way of inner-city-living, with a range of special inclusions and an urban green space exclusively for residents to relax, unwind and even work from home.
Bide comprises 89 spacious one, two and three-bedroom apartments just three kilometres from the CBD.
Two-bedroom apartments start from $635,000.
3. Silk Lane, Woolloongabba
Silk Lane will give residents the best seats in the house when the sporting arena is back in a post-lockdown world.
The building’s architectural façade, designed by Nettleton Tribe Architects, draws inspiration from the angular shapes of metal structure incorporated in the neighbouring Brisbane cricket ground, The Gabba. The appropriately named Skystand will look over the wicket for The Ashes, and the main hub of the 2032 Brisbane Olympic track and field events.
Developed by Sarazin, Silk Lane will home 306 one, two and three-bedroom apartments.
Prices start from $449,000.
4. Rivello, Hamilton
There's only a handful of apartments left at Rivello, the luxury apartment development by Brookfield Properties in Hamilton.
The 21-level building designed by Cottee Parker Architects has netted over 80 per cent of sales of the block of 150 apartments.
Brookfield Residential Properties’ Managing Director, Lee Butterworth, said buyers had responded well to Rivello.
“There is certainly significant demand for Brisbane property in the current market and buyers recognise Rivello represents a rare opportunity to purchase a new apartment in a building on the Brisbane River,” he said.