My reflections on the inner Brisbane apartment market

Here are my thoughts based on my non-scientific observations:

• Most of the apartments sold in inner-Brisbane in the past year have been one bedroom apartments.
• Thus, the medium price will be lower, because the kind of apartments selling are the smaller, cheaper apartments.
• However, many apartments are being sold below the previous sale price for that same apartment.
• In a number of buildings, the prices being achieved for apartments are equivalent to prices in 2007.
• Two bedroom apartments above $600,000 are not selling.  If they do sell, the contract often crashes.
• In some quality buildings, prices have not deceased, but there have been few sales.
• Vendors are discounting if they need to sell.
• Rents are increasing, but so are body corporate fees.
• Apartments being sold off-the-plan are being sold at prices that well exceed the price of similar existing apartments.

A sample of sales from a Ray White report is set out below.  (Double click on image to see larger version.)