Brisbane apartments will continue to rise

A crowd of over 280 people turned out to the Property Council’s latest Downtown Breakfast to hear three expert opinions on the Brisbane apartment market.

Cameron Kusher, Senior Research Manager – CoreLogic RP Data, kicked off proceedings with a presentation that outlined the current market statistics and trends. Of note, was the rapid change that has seen apartment approvals leap ahead of detached housing in the Brisbane market over the past 12 months.

Following on from Cameron’s presentation, Paul Riga, Associate Director – Urbis, provided an overview of the March quarter 2015 Urbis – Brisbane Apartment Insights Report. After the previous quarter’s figures showed that 1 bedroom apartments were the most popular product, mainly due to the release of the Skytower in CBD, the 2 bedroom 2 bathroom apartments in the March quarter returned as the most popular investment choice. The Inner South recorded the highest number of apartment sales at 534 with the next best being the Inner North at 280.

Rounding out the presentations was Jon Rivera, Project Director – CBRE Residential Projects Brisbane, who explained that after a period of record sales growth, the market was now entering a mature phase. The first signs of this phase have started to be seen with off the plan sales beginning to come off the boil, however, developers who can meet the expectations of the market will continue to sell apartments.

Rosanne Barrett, Journalist – The Australian, moderated a panel discussion that explored in more detail the future of the apartment demand.

Overall the panel was optimistic about the future demand for apartments, based on the price differential and rental yield compared to the Sydney and Melbourne markets.

The Property Council would like to sincerely thank our guest speakers Cameron, Paul and Jon along with Rosanne Barrett for moderating the event. Special thanks must also go to our sponsor of the Downtown Breakfast series Dexus, without their support the series would not be possible.

Proudly Sponsored By

Cameron Kusher – CoreLogic RP Data