CBRE - Brisbane improving

The Brisbane housing market is starting to experience the benefits of the resources boom but the Gold Coast remains one of the “worse performing markets,” says CBRE in its second quarter south-east Queensland market view report. 

The report notes that the Sunshine Coast housing market continues to struggle – though not to the same extent as the Gold Coast market – with both coastal markets not seeing much benefit from the mining boom in central and northern Queensland.

See Property Observer

Expert doubts where the market is heading

"CBRE Brisbane residential projects managing director Paul Barrett admitted the Brisbane market was difficult, with a lack of confidence in off-the-plan purchases. ... Mr Barrett said not all proposed projects would be launched or completed and that only the best, not necessarily the most expensive, would be built. ... 'There's a lot of doubt where the market is heading.'"

(Source: Australian Financial Review, 9 June 2011, page 54.)

This does not surprise me. The pricing for off-the-plan apartments is higher than for relatively new completed apartments. Over the past years, many apartment projects where there were many pre-sales did not eventuate. I am glad I did not put a deposit down on Trilogy, Empire Square, Vision and many others.