While Brisbane’s apartment market is generally discussed in negative terms, there is also much to be positive about here.
It’s absolutely true that too much generic investor-targeted stock has been built, including 60 square metre apartments, or blocks built close to busy highways and sold to interstate or international investors.
But in saying that, city-wide apartment rents have eased, and both young and older people are clearly centralising.
Brisbane has more than its fair share of decrepit housing stock, and in turn the new construction is forcing landlords either to improve what they offer to the market or hand over their rentals to homebuyers (or to developers that will invest in improving it).
There are so many people relocating up to Brisbane now or immigrating from overseas that the apartment market looks set to rebalance as new unit construction grinds to a halt.
With apartment rents starting anywhere from the high $300s/week, it’s not that much of a surprise that folks are shunning older stock in suburbia for walkability and proximity to the city lights.
Queensland’s internal population flows stabilising the CBD apartment ship: Pete Wargent https://www.propertyobserver.com.au/forward-planning/investment-strategy/economy-and-demographics/86-forward-planning/investment-strategy/observers/pete-wargent/82033-queensland-s-internal-population-flows-stabilising-the-cbd-apartment-ship-pete-wargent.html?