Sad news - 2 balcony deaths

This weekend was Riverfire, and sadly, two people died in separate incidents, both due to falls from apartment balconies. A young man fell from Pradella's Allegro apartments at South Brisbane. Another man fell from River Plaza, in Dock Street, South Brisbane.

Full details in this story.

Station 16 - South Brisbane

A new development from Aria, at West End is Station 16. Located at 16 Merivale Street, close to the off-ramp for the new Go Between Bridge. 60 apartments in total. One bedrooms from $335,000. Two bedrooms from $485,000.

"Station 16, offering 36 two bedroom apartments (including 5 Dual Key options) across 10 levels will take advantage of South Brisbane’s existing and future $4 billion infrastructure spend with the added benefit of an anticipated settlement date in 2012. The functional, contemporary, architecturally designed apartments that include European appliances tick all the boxes for the astute investor. With a selection of apartments boasting north-east facing aspect that provide outstanding Brisbane CBD views, you will want to be one of the first to secure your piece of Brisbane’s future."

South Point at South Bank - New Website

South Point has a new website.

"Take a moment to appreciate the journey that a stroll through a palatial Southpoint residence offers. Once inside, the walls ascend forever and the warm, opulent timber floor implores you to remove your shoes. There are vast living areas, lavish dining rooms and king-sized bedrooms. Lean on the private bar, recline near the classic fireplace, and discover the divine natural stone top kitchen that forms a living space all of its own. There's even the rare luxury of a powder room. This is just a sample of what gives Southpoint Residences their unique difference - there is so much more to be experienced."

Map and Transport

Brisbane Vacancy Rate

Vacancy rate for all Brisbane properties (houses and apartments, anywhere in Brisbane) is a low 1.9%

SQM has a good website to look at rental vacancy rates:
Brisbane City (4000 postcode) - 1.7%
South Brisbane area (4101) - 1.6%
Toowong (4066) - 1.4%
St Lucia (4067) - 1.5%
Indooroopilly (4068) - 1.9%
Sherwood area (4075) - 2.6%
Hamilton (4007) - 4.4%
Noosa (4567) - 2.2%
Mooloolaba (4557) - 1.3%

See also story in Courier Mail

"INNER Brisbane rents are increasing at more than 10 per cent a year, with a downturn in new apartments expected to keep vacancies tight.

DTZ Research has shown the biggest growth has been in one-bedroom units in the inner south and inner west suburbs of South Brisbane, West End and Indooroopilly, where rents have risen by up to 20 per cent.

The median rent of a one-bedroom unit in the inner south is now $420 a week, only $10 less than the CBD median price. DTZ director of project marketing Paul Barratt said the strongest growth in the next two years would be in near-city units and middle-ring suburbs with good transport."

Grey Street South Bank

The Brisbane Convention Centre is upgrading and rebuilding on Grey Street at South Bank.

See this video.

This can only improve the values of apartments in South Bank.

Rentals In Brisbane

It is rental season in Brisbane, and there is strong competition for apartments.  Many people are delaying a buying decision, and so are renting.  Some renters have locked in long term leases, taking these apartments off the market for some time.  Some investors have put their apartments into a short term letting pool for nightly "hotel" rentals.

Rents for decent unfurnished two bedroom apartments are as high as $600 per week.  One bedroom apartments in decent complexes are very popular and hard to find.  Add $100 a week for a furnished apartment.

If you are looking to rent, here are some ideas:

• Ciana Indooroopilly, 2 bedroom rents range from $475 to $600 per week
• Parklands Sherwood, 2 bedrooms from $440 per week; 3 bedrooms from $540 per week,
• Fresh Toowong, 2 bedrooms about $500 to $550 per week
• Admiralty Towers One, which has large apartments
• Arbour on Grey, from $550 per week for a 2 bedroom
• Metro 21, has both furnished and unfurnished, and is not doing short stay rentals so the building is more stable and homely

South Point and Buranda

"ARCHITECT-developer Tony John is willing to bet $1 billion that the run-down suburb of Buranda, in Brisbane's inner south, will be the next New Farm.Mr John has a scheme for a massive residential, retail and commercial project that can only be called immensely ambitious.

He is willing to bet that Brisbane people will be willing to pay about $500,000 for an entry-level one-bedroom apartment measuring less than than 50sq m. Big enough to swing a cat - just. He's willing to bet that they will want to live right next to the truck-laden Logan Rd, over a train line and right next to a busway in a suburb that looks like it has had too much sun and has never been known for urban chic. He's also betting that the housing affordability dilemma will mean people will question if they can afford a home and a car.

But just to show how strongly he feels about Buranda, the man who developed the oh-so-swish Emporium development in Fortitude Valley says he is less confident about his separate plans for 56 luxury apartments at South Bank projected to cost between $2 million and $10 million each. "I would not like to make that call right now," he said...."
See Courier Mail

Riverpoint Update

Riverpoint reports that it has reconfigured some of their apartment layouts:

"... we are about to release a whole new range of designs, in response to public demand. They incorporate a range of 2 bedroom, 2 bathroom apartments, 3 bedrooms apartments and Sub Penthouses. These stunning new designs will be released to the Brisbane Property Market on Saturday the 25th of October."

"The new Super Penthouse will be built over floors 7 and 8 of Mosaic [note: this is not a direct riverfront building] and will raise the level of riverfront living to unexpected heights, in this rapidly evolving prestige location. The Super Penthouse will be spread over 700m² of exceptional living. It will also incorporate a 70m² ballroom/entertaining space on the 7th floor, complete with its own private lift to level 8 – The Owners Enclave."

Water's Edge at West End - Traffic Concerns

Brisbane apartment project dismisses transport concerns

The company behind a new apartment complex in Brisbane's West End says it does not think the project will worsen local traffic flow. The old box cardboard factory near the Brisbane River will be replaced by 220 apartments. There will be two eight-storey towers built on the site.

Ross Higgins from Pradella Developments says it should attract more transport infrastructure to the area.

"West End's undergoing a major infrastructure redevelopment from a traffic point of view now," he said.

"And really what we're doing is replacing a lot of people that were working in the area anyway.

"I don't believe it'll have a negative effect on transport in fact I think that it'll bring more transport infrastructure to the area."

Source: ABC News

In fact, there are plans for more than two buildings on the site -- with two or three buildings planned for the other side of Duncan Street as well, as shown on the map on the project website.

See also Brisbane Times

West Village

Aria has launched a website for its South Brisbane - West End project, currently in the final stages of council approval.

www.gowestend.com.au

This project will have mostly small one bedroom apartments, priced from $380,000. There will be some two bedroom apartments, priced from $660,000.

The building will be located on Edmondstone Street in South Brisbane.

SouthBank 2026

Southbank2026-1

Hale Street Bridge

The new Hale Street Bridge (or Link as the Council calls it) has a fly-over on Coronation Drive. Will it impact the views of Coronation Residences and Vue?

It will increase traffic on Merivale Streets and Cordelia Streets in South Brisbane. I would not buy an apartment on these streets.

Hale Street

"The revised plan, which was passed by Brisbane City Council at a special meeting today, includes an overpass from the Riverside Expressway to Coronation Drive at a cost of $55 million, and removes the need for outbound traffic to queue at an intersection.

"This will allow outbound traffic from the city to proceed to the west along Coronation Drive by going up and over southbound traffic," Cr Newman said.

Original projections found the construction of the bridge and link would add an additional 40 minutes to peak-hour commutes during 18 months' of work."

See Brisbane Times.

See also http://helenabrahams.com/media83.html

River Plaza Auction Results

River Plaza, 21 Dock Street, South Brisbane
Auction, Saturday 29 June 2008

Apt 33
Three bedroom apartment, 8th floor, excellent views of river and city, apartment needed renovation
Reported as sold at auction for $685,000

Apt 26
Two bedroom apartment, reported as sold at action for $555,000