The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
2 WEEKS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 550 ALREADY ATTENDING
2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
ResidentialStaff WriterSun 29 Mar 15

Urbis Answers Brisbane Apartment Market’s Biggest Question

T

The Brisbane off-the-plan apartment market is not oversupplied, according to property research firm Urbis.

Despite recent media claims to the contrary, new research in the Urbis Brisbane Apartment Insights report clearly shows that the market is in a strong position.

The report reveals that the December quarter of 2014 was the busiest sales quarter since the report began, registering more than 1,500 sales.

Economic and Market Research Director Mal Aikman said the data revealed that supply to the inner Brisbane market was abundant but sales rates indicated that demand was not far off the pace.

“We know that the ebb and flow of the property market means supply and demand are rarely perfectly in step,” Mr Aikman said.

“Historically, we see this is as part of the broader trend in the property market and our research shows clearly that the sales rates are very strong at the moment.”

Mr Aikman said that the true supply levels were simply the number of apartments that were actually available for purchase.

“Looking forward, what we find is that in the first and second quarters of 2015 there are about 5,000 apartments available for sale.

“At the current rate of demand, that would equate to a sales rate of about 4,000 apartments.”

“Demand is slightly behind, but not significantly and we’re a long way from saying there’s an oversupply or a glut,” Mr Aikman said.

Sales rates for the December quarter were dominated by the CBD, with Billbergia’s Skytower project selling 415 apartments of the total 1,541.

This dominance knocked the heavy hitters, Inner South and Inner North, into second and third place respectively for busiest sales precincts.

Urbis Associate Director Paul Riga, who co-authored the report, said the CBD’s dominance was having knock-on effects in surrounding fringe suburbs, such as Coorparoo and Dutton Park.

“We’re starting to see some diversity of location with the promise of suburbs bordering on the inner ring finally being realised,” he said.

Looking forward, Mr Riga said the median house price pushing past $600,000 would mean a large section of the downsizing market will finally be able to sell the family home and move into apartments.

“I think we’ll see a lot of movement in the next cycle, where baby boomers and pre-retirees will finally sell the family home they’ve been holding onto and move into an inner city apartment,” Mr Riga said.

ResidentialAustraliaSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
View All >
Industrial

Inland Rail: Site at Rural Hub Comes to Market in Victoria

Lindsay Saunders
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
Global ports shift up to 30 per cent of containers by rail—Brisbane moves less than 2 per cent. Here’s why that’s a prob…
LATEST
Industrial

Inland Rail: Site at Rural Hub Comes to Market in Victoria

Lindsay Saunders
2 Min
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
3 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Residential

Home Affordability Gap Widens Across Asia-Pacific

Lindsay Saunders
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/urbis-answers-brisbane-apartment-markets-biggest-question