Saturday, February 9, 2013

Place Projects Apartment Report

Place Projects have released their December Quarter 2012 report on the development and sales for new apartment projects in Brisbane.  The report can be viewed here.  The report looks at 46 different city and inner city apartment developments currently being marketed and sold.  Of these, only 3 are in the downtown CBD area.

Some extracts from the report:

Through the longer term, a ten year period, the average number of unconditional new and off the plan sales has been 307 transactions for the Inner Brisbane marketplace. After five consistent periods whereby quarterly sales for new and off the plan projects were well above this long term average, the December Quarter 2012 saw a slight softening to only just fall short, registering 274 unconditional transactions.

  • A weighted average of $524,544 was recorded during the December 2012 quarter. This result represents a high percentage of one bedroom sales for the quarter and continues the trend recognised through the past three years of an elevated demand for this stock, that is high yield in the short term with the prospect of capital growth as the market recovers. 
  • Inner Brisbane supply tightened slightly during the December 2012 quarter. A total of 1,713 new residential apartments remain for sale across the Inner Brisbane market. Given the softening in sales rate recorded during the September quarter, this translates into a relatively unchanged monthly supply of just over 13 months.

1 comment:

Jenny Garcia said...

What is going on with the Midtown apartments? I see the building is open but with only a third of the apartments sold, I wonder if the onsite hotel has enough units to let out?