For example, at the Ray White auction today, a relatively new two bedroom apartment at Indooroopilly (113 sqm in total) sold for $400,000 under the hammer, where the rent is $500 per week. Another 2 bed apartment of similar size in a different complex with river views also in Indooroopilly recently sold after only a few weeks on the market for $485,000.
Good quality two bedroom apartments in the downtown area are renting for $650 per week unfurnished.
But this more confident mood is not the same everywhere. The top end apartment market is very dead. For some apartments over a million, no buyers are calling at all. On the Gold Coast, things are very slow. Juniper's Soul development has been slowed down, with the first batch of settlements being delayed until the second half of this year and there are less construction workers on site. I wonder why?
In short, the mood is picking up in Brisbane for well priced investor apartments.