From Ray White CBD:
"The
third quarter has seen prices remain stable after the growth of the
first two quarters on 2014. Falling rents across the inner city in the
last two months have halted price growth as large developments in nearby
suburbs such as South Brisbane, Bowen Hills and Fortitude Valley have
been completed. This has resulted in an over supply of rental
accommodation causing rents to plunge. With over 8,000 apartments
approved for the city's inner suburbs rents look certain to remain soft
for the next few years.
Michael
Matusik released an article on his Linkedin page this week on the
rental situation that has seen the rents for 1 bedroom units drop by $60
a week in recent months and 2 bedroom units drop by over $100 a week. https://www.linkedin.com/today/post/article/20141019231540-170298265-brisbane-inner-city-apartments and following is a recent article in The Courier Mail http://www.couriermail.com.au/business/experts-say-outlook-is-not-pretty-as-fundamentals-in-inner-city-apartment-market-are-weakening/story-fnihsps3-1227024827411
With
the outlook for rents continuing to fall next year as more and more
buildings are completed, it is doubtful prices will remain at their
current levels. Should you be considering selling, now is the time to do
so."
Sounds like Ray White is saying now is not a good time to buy a Brisbane apartment. Prices to fall!
Posts
No comments:
Post a Comment