Saturday, September 19, 2015

Ray White Agent's View of Brisbane apartment market

From an email from a Brisbane Ray White agent:

"The concerns for property owners for the next 12-18 months is that with around 23,000 new apartments under construction around the CBD & fringe, is that it will have a volcano effect and force property prices and rent down due to the over supply. 

We are seeing this happen at the moment in Surfers Paradise with 9/10 owners are losing money on their property. Sydney and Melbourne have already seen this happen. We are recommending it's crucial to have a think what your property plans are for the next few years. 

If you are having any thoughts of selling, don't hesitate to get in touch before it's too late. This new stock coming to the Brisbane market is not far away. 

Good news is! The market is strong at the moment."

1 comment:

Thomas Maloney said...

AS optimistic as an oversupply might sound like now, it will take ages for these apartments and buildings to be built before we actually see the final results, so don't be too happy about things now!