Position Property, Brad Munro:, Autumn 2016 newsletter
- "There is no denying that there are concerns over just how many apartments are being built across Brisbane."
- "The concern I have is that many of these developments are being sold anywhere from 80% to 100% to inventors. Many of these buildings have 200-300 or more apartments -- there needs to be a lot of tenants to fill them all."
- "Rental prices will decrease which then affects the investment return for the investor. Even now, with only a limited number of these developments being finished, the rental prices are down from what the investor was promised. I believe there is more pain to come."
- "There are fewer buyers in the market."
- "I am really concerned as to what the next 3 years has in store."
- "I have no doubt that selling in the next 6 months is going to achieve a better result than waiting until next year."
Tessa Residential CBD Market Overview
- "We anticipate a stable and consistent market place in 2016..."
- Oversupply "is a reality throughout suburbs such as Newstead, Bowen Hills, South Brisbane and West End and as a result is having an impact on the rental market with rents across the City starting to soften."
- "We believe 2016 will represent the optimum time for sellers who are considering cashing in on the improved market, which has continued to grow since June 2013."
So sell now if you are thinking of selling in the next 3 years, but don't buy now -- wait till next year!