Brisbane Apartment Market Holding Strong: Urbis

Brisbane’s new apartment market is holding strong according to new research by property analysts Urbis.

The latest Urbis Brisbane Apartment Insights report revealed a total of 1,899 new apartments sold
between July and September, the second highest volume of sales on record behind the June quarter
(2,277 sales).

Urbis Economic and Market Research Director Malcolm Aikman said the current sales rate indicates
purchaser demand has remained strong.

“The September quarter marks the first time since December 2014 that the number of apartments
available for sale (2,293) was roughly equal to the number of apartments sold. In other words, supply
is aligning with demand,” Mr Aikman said.

“The research shows Inner Brisbane now has the lowest volume of active apartments available since
January as local, interstate and international buyers continue to recognise opportunities in the river
city.”

Approximately 27 new projects are expected to launch in the December quarter, bringing between
2,500 to 3,000 new apartments to the market before the end of the year.

Mr Aikman said there are some new and exciting projects in the pipeline for 2016 which had been long
awaited.

“Developers are facing high levels of competition and are becoming more attune to buyer demands to
secure their share of the market,” he said.

“A competitive developer market means buyers will benefit from more choice, better quality product,
relative affordability and a greater mix of amenity.”

The Urbis Brisbane Apartment Insights Report also found the weighted average sale price for Inner
Brisbane apartments had increased by more than $30,000 since June and more than $45,000
compared to the corresponding quarter in 2014.

The Inner South* was the most active precinct with 842 transactions, making up 44 per cent of all sales
and driven largely by a number of major new project launches.

Almost half of all product sold were two bedroom two bathroom apartments, which continue to register
the greatest demand and make up 49 per cent of Brisbane’s future supply.