Sunday, March 27, 2011

How Many Apartments for Sale in Brisbane?

There has been some press recently about the number of apartments for sale in Queensland, and the slow sales rate. This may be the case for the Gold Coast, and for overpriced off-the-plan developments. But if you look at the quality buildings in Brisbane, there are very few apartments for sale.

For example:
  • Quay West: 4 apartments for sale (two 2 beds; two 1 beds).
  • Admiralty Quays: two 2 beds
  • Admiralty Towers: one 2 bed at rear
  • Admiralty Two: one 2 bed; one three bed
  • Arbour on Grey: 2 apartments for sale (one 2 bed; one 3 bed).
  • Saville SouthBank: zero
Across these buildings, that is less than 2% of the total apartments in these buildings for sale.

Some buildings have a large number of apartments for sale: Skyline, Aurora, Macrossan, & Riparian all have a number of apartments for sale. Strangely, The Grosvenor, which usually has no apartments for sale, has about 3 for sale at present.

So there may be an oversupply in some areas and for some buildings, but for the quality buildings, there are not that many available to purchase, particularly below the $900,000 price point. And the flooding of Brisbane does not appear to have impacted pricing of these apartments at all.

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