Sunday, August 9, 2009
Finding a Good Apartment to Rent in Brisbane
Even though the vacancy rate is increasing in Brisbane, many of the good apartments for rent are hard to find. Often, this is because the existing tenant does not leave, and when they do become available, are snapped up quickly. For the better buildings, a large percentage of the apartments are occupied by the owner, and so are not rented out. Also, onsite managers often control the rental rolls, and don't often advertise on the usual property websites (as they don't need to do so). Some have their own website. Also, onsite managers may have a relationship with executive relocation services, that are fed the better apartments.
At one time, a good specialist website for apartments was http://www.seqrents.com.au However, it seems that some buildings are not using this site anymore, or are not bothering to update their listing on this site. So, although useful, it is less useful.
The largest number of listings are located on RealEstate.com.au, but a number of onsite managers do not use this website.
You have to find out how each manager advertises his/her vacancy.
Generally, you want to avoid any buildings managed by Oaks, as they focus on short term hotel style rentals.
Also, look at the posts and links on this blog. This website has a list of most city apartment buildings, with useful information and links about them. Also, try this customized search engine.
Inner City Brisbane:
I recommend Arbour on Grey at SouthBank: http://arbour.com.au/cms/welcome.html
Also, Saville at SouthBank is one of the nicest buildings if you get a river facing apartment: http://www.seqrents.com.au/saville/index.htm. The best thing to do here is call, because the website is not updated regularly. Telephone 07 3305 2559
If you want to live downtown, then I recommend the Admiralty Precinct. This comprises three first-tier buildings (Admiralty One, Admiralty Two and Admiralty Quays), plus River Place (good location, not as good quality) and Skyline (second tier).
Admiralty One is good value, and has some of the largest two bedroom apartments in Brisbane - http://www.admiraltyone.com.au/
Admiralty Two also has good sized apartments, and the building has great facilities. http://www.admiraltytwo.com.au/
Admiralty Quays is newer, and has a great pool, but the apartments are smaller. and it is more expensive. http://www.admiraltyquays.com/
Nearby on the river in the city is River Place, that is not as good quality, but is likely to have availability as this is a large complex. Careful of Storey Bridge noise. Great views.
On Alice Street in the city, if you can get an apartment in Quay West, that is fantastic, as it has park and river views -- for long term rentals, the best agent to try is Blockside & Fergerson for this building. Half of this building is a hotel managed, so it is easy to get short term accommodation in Quay West. All apartments are privately owned. You want to get above level 7.
For an inner city downtown building, Metro 21 is one of the better quality buildings. It has only 4 apartments per floor -- and tries to be more upmarket so is better than most buildings that aim at students -- it seems to have better availability, and some of the two bedroom apartments have three bathrooms. The baloneys are large: http://www.realestate.com.au/realestate/agent/metro+21+brisbane/mlibri
and http://www.metro21apartments.com.au/
Apartments in Suburbs
The suburbs that I recommend, due to location, transport and large number of better quality apartments, are Toowong, St Lucia, Taringa, Indooroopilly and possibly Milton and Hamilton. I don't recommend Chermside.
The newest complex in the Toowong / Taringa area is Fresh. This complex has two pools, a gym and great gardens. http://www.realestate.com.au/realestate/agent/acorn+realty+taringa/nrqhzu
Next door to Fresh is Encore, which is a relatively nice complex, with good pricing (but not as nice as Fresh, and some of the apartments are small). http://www.seqrents.com.au/encore/
St Lucia is harder to find quality -- there are few onsite managers. So you have to try local real estate agents, such as Ray White (who also has listings in Fresh).
In Indooroopilly, there has been recent construction, so there are a number of new, quality buildings. My two picks are Riva and Ciana.
Riva has apartments with great river views. It is a quiet building, with a pool, and is close to the train station and Indooroopilly Shopping Centre http://www.seqrents.com.au/riva/
Ciana is a larger new complex, in a central location, with many large apartments. There is a pool and gym, plus a bowls club! http://www.ciana.com.au/
If you want an apartment complex that feels more suburban, then Parklands at Sherwood is a great choice. Many apartments have park/rural views, and there is a great pool and bbq area http://www.centralsherwood.com.au/.
Nearby is Tennyson Reach, where you can get a large new apartment on the river. This is a new complex, but (apart from river views) not a great location.
This is a list by a selling agent about various inner city buildings:
http://www.openhouserealty.com.au/html/residential/21/apartment-buildings
Sunday, July 19, 2009
Sales in Brisbane City
Admiralty Towers Two - 2 bed, 2 bath, 1 car, 106 sqm, level 14 - sold in March 2009 for $725,000
Quay West - 1 bedroom, 1 bath, 1 car - 75sqm, level 4 - sold in April 2009 for $450,000
Riparian - 2 bed, 2 bath, level 41 - sold at auction for $1,400,000
Grosvenor - 3 bedrooms sold at auction for $1,535,000 on 3 July
Saturday, June 20, 2009
Brisbane Apartment Recent Auction Results
- Felix, Apt 317, Level 31, 3 bedrooms, 3 bathrooms, over 150 sqm - highest bid $820,000, now listed at $950,000
- Willahra Tower, Apt 49, 2 bed, 2 bath, 96sqm, no bid at auction, now listed at $449,000
- Quay West, Apt 401, Level 4, 2 bed, 2 bath, 126 sqm, vendor bid of $600,000
- Roma Street Parklands, Building 3, Apt 3095, 3 bed, 2 bath, end/rear unit, vendor bid $535,000, listed at $600,000 and reported as sold
- Roma Street Parklands, Building 4, Apt 4046, 3 bed, 2 bath, lower floor with no view, vendor bid $550,000, now listed at $700,000
- SoHo South Brisbane, Apt 605, 3 bed, 2 bath, impacted by new bridge being built, highest bid $550,000, now listed at $600,000
- Toowong, 24/12 Patrick Lane, 2 bed, 2 bath, sold for $487,000
- New Farm, 7/38 Elystan Road, 2 bed, 1 bath, sold for $780,000
Friday, April 3, 2009
One Bedroom in Roma Street Parklands
One bedroom for sale in Roma Street Parklands - Pinnacle - for $669,000. Nice apartment, but that seems expensive! Compare a one bedroom at Quay West for $450,000
Sunday, March 15, 2009
Harbour One Launch!
The glossy brochure for Hamilton Harbour given out at the sales office is very impressive. You can feel the quality in the brochure. It is a shame that the brochure is misleading. There are nice PhotoShopped photos (i.e., fake photos) that show happy people on balconys with impressive river views. However, no apartment in Harbour One will have a balcony with the designs shown in the brochure, and the views will not be anywhere near as impressive (because there are buildings between Harbour One and the river.) And is it correct to say "Waterside Living" for a building on Kingsford Smith Drive that is two blocks back from the river with no direct river views?
The apartments with the best views face West, which is not great in a Brisbane summer.
The apartments are small and expensive. There are only three elevators for 238 apartments! There is no gym included -- you can join a commercial gym being built on the site. The living areas for most apartments have popcorn ceilings with oyster lights -- not the highest quality. Many one bed apartments do not have a car park. And a number of the one bed apartments do not even have a laundry -- not even a cupboard with a washing machine or dryer.
Type A One bedroom
41 sqm internal, 50 sqm total
No river views.
No car park.
No laundry.
Kitchen is a strip of cupboards in living room.
No room for dining table inside -- plan shows dining table on balcony.
Sliding doors to bedroom.
Price range - $295,000 to $385,000.
Price per square metre for most expensive of this design - $7,700
But if you add $50,000 for lack of carpark, then price per square metre is $8,300.
Type C One bedroom plus "extended living space"
54 sqm internal, 64 sqm total
Potential river views.
Kitchen is a strip of cupboards in entry way.
No room for dining table inside -- plan shows dining table on balcony.
No bath - shower only.
Price range - $405,000 to $495,000.
Example: Level 7 apartment is $430,000
Price per square metre for most expensive of this design - $7,734
Type E Two bedroom
73 sqm internal, 84 sqm total
Potential river views.
Second bedroom not near second bathroom
Both bedrooms at front
Price range - $555,000 to $695,000.
Example: Level 10 - $640,000
Price per square metre for most expensive of this design - $8,273
Type F Two bedroom
84 sqm internal, 98 sqm total
Largest two bed apartment
End apartment.
Potential river views.
Excellent glass-fronted wall to ceiling living space -- should give this apartment a wow factor!
Bedrooms at side or back -- second bedroom looks into blank wall.
Price range - $605,000 to $805,000.
Examples: Level 10 - $690,000; Level 12 - $745,000
Price per square metre for most expensive of this design - $8,214
It would be interesting to track re-sales in the recent Devine Charlotte Towers, to see if the apartments were priced too high when sold off-the-plan.
According to REIQ, the medium Hamilton apartment price for December Qtr 2008 was $415,000, which is down 11.6% on the previous quarter. Buying an existing apartment may be better value, or even Portside. For example, a two bedroom apartment in Admiralty Two, with direct river views and absolute river front, can be purchased for less than $650,000 (106 sqm) and is less than $6,000 per sqm. A one bedroom in Quay West, where Ken Woodley lives, is about 74 sqm, includes a car park, and is about $440,000 (less than $6,000 per sqm).
Friday, March 6, 2009
Saturday, October 25, 2008
Soleil Tower Sales Launched Today
Meriton's Soleil, its first building in Brisbane, launches this weekend. (Completion of the building is planned for 2011 or 2012.)
It will be 74 levels, and 234 metres high, located at the end of Adelaide Street, behind Skyline and next door to Macrossan (which is under construction).
Floors 31 to 64 contain the apartments that Meriton will sell. Floors 65 to 74, comprising 42 apartments, are not for sale. Floors 30 and below will probably be 175 serviced apartments, owned and managed by Meriton. A total of 188 apartments will go on sale this weekend. They are 1 to 3 bedroom apartments. The 2 and 3 bed apartments have 2 bathrooms, and an underground carpark (up to 10 levels below Adelaide Street level).
On the higher floors (above level 41), there are five apartments per floor. There are 3 elevators for about 220 apartments, which is not a great ratio. (Admiralty Two, just nearby, has 191 apartments and six elevators.)
None of the apartments have balconies. Airconditioned, full length windows, and floor to ceiling tiles in the bathroom. Indoor pool and gym.
Here are some example two bed, two bath apartments:
Apartment 6001, level 60, views south down the Brisbane River over the top of Skyline, 79 sqm and 1 car park. Listed for sale at $823,000, which is about $10,400 a sqm.
Apartment 4205, level 42, limited views between Admiralty Quays and River Place, but good views over All Hallows, 83 sqm and 1 car park. Listed for sale at $672,000, which is just over $8,000 per sqm.
Apartment 5204, level 52, views over Admiralty Quays, 78 sqm and 1 carpark. Listed for sale at $688,000, which is just over $8,800 a sqm.
Compare existing, older stock of 2 and 3 bedroom apartments nearby:
- Admiralty Two, Level 4, direct riverfront, 103 sqm (including balconey), listed at $720,000
- Skyline, Level 27, river views, 102 sqm (including balconey), fully furnished, listed at $720,000
- Admiralty One, Level 18, direct riverfront, 3 bedrooms, 2 carparks, 150 sqm, listed at $880,000.
- Quay West, Level 16, river and park views, 120 sqm, listed at $850,000
- River Place, Level 13, direct riverfront, 116 sqm listed at $675,000 or $675,000
Overall, Soleil is in a great location, the floor plans seem to be well designed, and Meriton will deliver. Care should be taken when selecting, as some apartments will not have great views due to neighbouring buildings -- but some apartments should have great views (if you like heights!). The apartments are a little small for my liking, and I am not sure about lack of balconey.
Monday, October 20, 2008
No More NorthBank
The Premier axed the NorthBank development on the edge of the Brisbane CBD.
See Sunday Mail - it was front page news.
People in Casino Towers and the west side of Quay West are happy no doubt.Friday, August 15, 2008
Auction in Quay West
Highest bidder was $445,000.
Now listed for sale at $470,000.
Saturday, July 26, 2008
Find Me A Home
From my quick review, it is not very user friendly or accurate.
Using a map interface, it lists properties for sale. First, the list is not comprehensive. Second, it lists properties for sale that have been sold.
When selecting a property, it gives an indicative value. For the apartments that I looked at, the indicative value is not very accurate.
For example:
- A two bedroom apartment in Quay West - indicative value given as more than $1,348,000. This apartment would be, at best worth in the $800,000s.
- A one bedroom apartment in Charlotte Towers - indicative value given as more than $731,000 to $837,000. This apartment would be, at best worth $400,000 (most likely $360,000.)
- Casino Towers, Apt 3702, indicative value given as more than $1,166,000. This apartment recently sold at auction for $705,000.
Sunday, June 22, 2008
Mirvac's Quay West
Mirvac built (and continues to manage) the Quay West apartment building in Brisbane's Alice Street, overlooking the botanical gardens. Large one and two bedroom apartments on the lower levels, with penthouse apartments on the top 5 levels. One of the residents is a senior person from Devine, who is constructing the French Quarter development next door. The French Quarter development will move the prices of Quay West even higher.
One bedroom on level 9, listed at $525,000Two bedroom on level 16, listed at $850,000
Friday, May 2, 2008
Interesting Apartments for Sale In Brisbane
Admiralty One: 3 bedrooms on high floor, great river views, high quality building: listed at $2,500,000
River Place Villa, 3 bedrooms, listed at $2,100,000
River Place, 3 bedrooms, listed at $2,000,000
Admiralty Two, 3 bedrooms, high quality building listed at $1,300,000
River Place, 2 bedrooms, renovated with new kitchen: listed at $900,000
River Place, 2 bedrooms: listed at $690,000
Quay West: large 1 bedroom over looking the Botanical Gardens, high quality building: listed at $550,000
All the above have "never to be built out" views.
Also, Aurora: 2 bedrooms, corner, high floor, but may be impacted by Trilogy: listed at $749,000
I will be interested to see what these apartments actually sell for.
Saturday, April 26, 2008
AFR - RP Data Brisbane Apartment Survey 2007
Building | Number of Resales | Median Annualised Capital Growth | Median hold period |
Riparian Plaza | 4 | 24.8% | 2.8 years |
Grosvenor | 7 | 11.9% | 3.7 years |
| 10 | 9% | 6 years |
KoKo | 15 | 7.6% | 2.3 years |
Quay West | 13 | 6.1% | 11.1 years |
| 61 | 2.3% | 3.9 years |
| 13 | 0.8% | 2.9 years |
Friday, April 25, 2008
How to Find a Great Apartment to Rent in Brisbane
** Updated post click here **
It is becoming harder to find a good apartment to rent in Brisbane. Not only are rents increasing, but there are few new buildings opening over the next few years and a number of existing buildings are being turned into short stay "hotels".
Good apartments are often snapped up quickly. Also, onsite managers control the majority of apartments for rent in most buildings, and don't often advertise on the usual property websites (as they don't need to do so). Some have their own website. Onsite managers may have a relationship with executive relocation services that are given preference.
You have to find out how each manager advertises his/her vacancy.
If you are looking for a place to rent a good inner city apartment, I believe that this is one of the better sites to look at: http://www.seqrents.com.au
This website has a list of most city apartment buildings, with useful information and links about them. Also, try this customized search engine.
You want to avoid any buildings that are primarily short stay buildings (unless of course you want to stay for 2 nights to 2 months.) So avoid buildings managed by Oaks, as they focus on short term hotel style rentals. Look here if you want a short stay apartment in Brisbane.
There are some cross-over buildings, that are officially hotels but that have apartments on higher floors. Usually, the apartments in these buildings have the option of receiving hotel services. Two examples are Quay West and Saville South Bank, which are good places to live.
Look around -- the rents for some of the newer buildings are much higher, and the apartments are smaller, than in buildings that are five to ten years old.
Some places to look:
Admiralty One, is good value: http://www.seqrents.com.au/admiralty/
Admiralty Quays and Admiralty Two are also good quality. At present, I think some of the best value apartments for rent are in Admiralty Two.
Admiralty One (also called Admiralty Towers), Admiralty Two and Admiralty Quays were all developed by the same developer and are direct river front, an easy walk to the downtown. They all have one or more swimming pools.
Next door to Admiralty Quays on the river in the city is River Place , that is clearly not as good quality (it is a Devine built building), but is likely to have availability as this is a large complex. Careful of Storey Bridge noise. Great views. Recently taken over by Mint Apartments, which is doing short stay and hotel rentals.
For an inner city downtown building, Metro 21 is one of the better quality buildings. It has only 4 apartments per floor -- and tries to be more upmarket so is better than most buildings that aim at students -- it seems to have better availability, and some of the two bedroom apartments have three bathrooms. It does not do short stay. The balconies are large: http://www.realestate.com.au/realestate/agent/metro+21+brisbane/mlibri
and http://www.metro21apartments.com.au/
It is also worth trying some of the off-site agents:
In my opinion, some of the buildings to avoid (see prior posts) are
- 212 Margaret
- Festival Towers
- Charlotte Towers
- Aurora
- River City
- Felix
- Casino Towers
I recommend Arbour on Grey at SouthBank: http://arbour.com.au/cms/welcome.html
Also, Saville at SouthBank is one of the nicest buildings if you get a river facing apartment: http://www.seqrents.com.au/saville/index.htm
I know people at LeftBank at West End who like living there, but it is a little bit far to walk to any shops -- it is in an industrial area: http://www.seqrents.com.au/leftbank/
In the suburbs:In the back of Toowong, Encore is a relatively nice complex, with good pricing (but currently construction next door, so take care of which apartment). http://www.seqrents.com.au/encore/
St Lucia is harder to find quality -- the quality is there, it is just that there are few onsite managers and it is harder work to find good available apartments.
In Indooroopilly, Riva is the only quality building -- again, some noise in some apartments due to nearby construction. Some have river views. http://www.seqrents.com.au/riva/
Sunday, February 24, 2008
Market Forces
I have tried to work out how many apartments are for sale in certain buildings as at today, looking at various sources, and this what I conclude. I did not count anything reported to be under contract. The details are probably inaccurate, but the overall picture is probably about right:
Brisbane City
- Admiralty Towers One - 0
- Admiralty Quays - 1
- Admiralty Towers Two - 2
- Quay West - 2
- Metro 21 - 4
- River Place - 5
- Felix - 6
- Casino Towers - 8
- Skyline - at least 26 (plus what the developer has not yet sold)
- Festival Towers - 32
- Charlotte Towers - at least 40 (plus what the developer has not yet sold)
- Aurora - 41
- M on Mary - more than 100
- Saville South Bank - 0
- Arbour on Grey - 2
- Aurora: 29 sales, medium sales price of $470,000
- Casino Towers: 26 sales, medium sales price of $477,500
- Felix: 13 sales, medium sales price of $440,000
- Riverplace: 7 sales, medium sales price of $600,000
- Admiralty Towers 2: 7 sales, medium sales price of $700,000
- 212 Margaret: 7 sales, medium sales price of $322,000
- Admiralty Towers: 4 sales, medium sales price of $755,000
- Quay West: 4 sales, medium sales price of $445,000
By comparison, in the whole of Indooroopilly, there are 12 apartments/units currently listed for sale, of varying age and quality.
Monday, January 14, 2008
Two Bedroom Apartments Above $800,000 in Brisbane City
- Parklands, Apt 6042, $875,000
- Felix, Apt 377, $950,000
- Quay West, Apt 1901, $850,000
- Quay West, Apt 2006, $830,000
Some listings (all two bedrooms)
- Casino Tower Penthouse, $1,300,000
- Riparian Plaza, $2,200,000
- Quay West, Apartment 606, $800,000
- Evolution, Apartment 52 (level 5) (77sqm internal), $958,000
- Evolution, Apartment 166 (level 16) (89sqm internal), $868,500
- Evolution sub penthouse, Apartment 323, $1,640,000
- Evolution, Apartment 344, $1,740,000
- Evolution, $850,000
- Admiralty Towers Two, $815,000
- Admiralty Quays, $880,000
- Parklands, Pinnacle, 9th floor, $1,050,000
- Parklands, Pinnacle, 6th floor, $975,000
- Quest River Park Central, 29th floor, $1,400,000
- Grosvenor on Edward, $1,100,000
Tuesday, January 1, 2008
What will 2008 have in store for the Brisbane apartment market?
The results were mixed.
It is hard to get reliable information about "the state of the market" when looking at inner city apartments in Brisbane. Agents only seem to remember the last two weeks -- if they made some good sales in the past 2 weeks, then the market is booming; if they didn't get new listings or a contract collapsed, then the market is heading towards a bust.
Information providers, such as RP Data and PRDColliers, have good information, and this information is often used by the media to make general conclusions. However, general conclusions are often not useful when considering a particular apartment building or apartment.
Capital Gains
Some apartment buildings did very well, and others did not. Overall, a good building had at least a 10% capital gain in 2007.
The buildings that had good capital gains include:
• Riverplace, where the average 2 bedroom apartment increased from about $500,000 to over $600,000.
• Admiralty Two, where 2 bedroom apartments increased from about $650,000 to $720,000 (with one now listed at over $800,000).
• Quay West, with a 2 bedroom apartment selling to a senior Devine employee at auction for over $800,000.
• Metro 21, with high floor 2 bedroom apartments increasing from less than $460,000 to more than $500,000.
• Arbour on Grey, with 2 bedroom apartments now in the low $700,000 range.
Buildings that have been disappointments include:
• Charlotte Towers and Festival Towers - with Oaks taking over management. Many developer apartments still remain for sale in Charlotte Towers. Investors who purchased off the plan have had a hard time getting good prices on resale, with over 800 pokey poor quality student apartments in these two buildings, where the views will likely be lost as buildings grow around them and there will always be competition amongst sellers.
• Casino Towers, also taken over by Oaks, and with North Bank plans taking out the river views.
• Aurora, a poor quality ghetto building.
• Vue, at Milton, with apartments that sold off the plan in the mid $700,000s reselling at auction in the mid $500,000s.
• Koko, that still has not sold out, and the complex feels like a ghost town. The developer overpromised and under delivered.
Rents
Rents increased, and vacancy rates dropped in 2007. But the overall rental market is not as good as many newspaper articles suggest. The poorer quality buildings are full of students, often with 6 people living in a 2 bedroom apartment, on a rent subsidised by the developer who promised the first owner a rental guarantee. Many apartments are occupied by corporate renters (such as Accenture, engineers working on the tunnel, etc) who are willing to pay high prices for new furnished apartments; but this demand will not continue indefinitely. Some buildings, such as those managed by Oaks, are turning apartments into hotel rooms, thus reducing supply. Although December is not the best month to find tenants, there are many empty apartments in Brisbane awaiting tenants. Skyline and Koko, for example, have many empty apartments.
Although rents increased in 2007, the rate of increase slowed towards the end of the year. It is now hard to find a good unfurnished two bedroom apartment for rent in the inner city for less than $550.
Predictions for 2008
Quality inner city apartments in Brisbane will do well in 2008. Capital growth will continue, and vacancy rates will remain low. Reasons for this include:
▪ Brisbane population will continue to increase.
▪ International students still regard Brisbane as a desirable location.
▪ There are many infrastructure projects in Brisbane, requiring professional staff to work in Brisbane.
▪ Traffic will get worse, and many young singles and families will want to live in quality accommodation close to work and other facilities.
▪ It is becoming more acceptable and desirable to live in an apartment in Brisbane.
▪ The U.S. subprime problems will have little long term impact in Brisbane.
▪ There will be few new buildings entering the market in the next two years. M on Mary and Evolution, both second tier buildings, will be complete in 2008. That's about it. There are only six buildings listed on realestate.com.au in the developers section for the CBD, and four of these are completed buildings (Vue, Trilogy, Pinnacle, Skyline, The Hub, Evolution). It does not look like any new buildings will be ready in 2009. There will be new buildings for which marketing will commence in 2008, but these buildings will not be ready until at least 2010.
So here are some predictions for 2008:
• The price of a good quality 2 bedroom 2 bathroom apartment in Brisbane, with views, will be at least $800,000.
• The price of an average quality 2 bedroom 2 bathroom apartment in Brisbane will reach $650,000.
• By the end of 2008, it will be hard to find any modern inner city apartment in Brisbane in a good location for less than $600,000.
• New off-the-plan 2 bedroom apartments (for buildings where marketing commences in 2008) will start at $800,000.
• Average rent for an unfurnished 2 bedroom apartment will jump midyear to $620 per week.
• There will be more buyers than sellers.
• There will be more action in the inner suburbs than in the city. Prices for quality apartments in areas such as Indooroopilly and Toowong (where there is a train station and regional shopping, close to education facilities) will boom. By the end on 2008, it will be hard to find a good quality 2 bedroom apartment in these areas for less than $600,000.
• Noosa and Mooloolaba will rise again, as people looking in Brisbane for investments will see good value in the northern beaches, particularly beachfront apartments.
• 2009 will be better than 2008.
If you find any of these predictions hard to believe, for some buildings they are already true. For example, today:
• Small Off-the-plan 2 bedroom apartments in Brisbane, in Evolution, at 75 sqm, are selling for over $650,000.
• Two bedroom apartments are selling in Quay West, Arbour on Grey, Admiralty One and Admiralty Two for more than $700,000.
• Trilogy, in Spring Hill, has two bedroom apartments (less than 80 sqm, but with views) listed at more than $600,000. [However, a number of contracts have fallen through, as the valuations have come back $40,000 or so less than contract price.)
• New two bedroom apartments with river views in West End and Milton (e.g. in Flow and in Coronation Residences), which are not prime locations, are selling for more than $900,000.
• Off-the-plan apartments (two bedrooms, at least 85 sqm) are selling in quality developments in Indooroopilly, Toowong and Sherwood today for well more than $550,000.
• People have signed contracts for 2 bedroom apartments in Vision (e.g., level 35, 120 sqm) for more than $1,000,000. Settlement, if this building ever gets off the ground, will not be until 2011.
• The price range for a large 2 bedroom apartment in Mirvac's Tennyson Reach is $900,000 to $1,100,000. Settlement in 2010.
• Off-the-plan 2 bedroom apartments in Soul on the Gold Coast are, at a minimum, $1,800,000. Settlement not at least until 2011.
So I will not be selling in 2008.
Sunday, December 2, 2007
Brisbane Apartment Sales
Koko (a Stockland development)
Apartment 238 - Greenwich Building - 2 bed 2 bath pool view - sold at auction on 1 December 2007 for $553,000
Apartment 1320 = Stage One, 3rd floor, 3 bedrooms - Sold for $1,100,000
Apartment 2214 = Stage Two, 2nd floor, 3 bedrooms - Sold for $962,500
Third floor, 2 bedroom apartment recently sold for more than $700,000
1901/132 Alice St, Brisbane - $850,000 (Quay West)
206/132 Alice St, Brisbane - $750,000 (Quay West)
Others:
112/293 North Quay, Brisbane - $215,000 (North Quay)
1009/128 Charlotte St, Brisbane - $370,000 (Charlotte Towers)
245/420 Queen St, Brisbane - $477,000 (Aurora Tower)
4020/255 Ann St, Brisbane - $293,000 (Rendezvous)
705/35 Astor Terrace, Spring Hill - $425,000 (The Astor)
3001/255 Ann St, Brisbane - $310,000 (Rendezvous Hotel)
2006/108 Albert St, Brisbane - $305,000 (Festival Towers)
3003/108 Albert St, Brisbane - $435,000 (Festival Towers)
3008/128 Charlotte St, Brisbane - $571,500 (Charlotte Towers)
2101/92 Quay St, Brisbane - $395,000 (Vue)
Monday, November 5, 2007
Brisbane Apartment Short Term or Hotel Stays in Suites
I am often asked which apartment buildings are good for short term stays. That is, which apartments in Brisbane downtown and nearby are furnished, safe and have good facilities.
These are my recommendations, in this order:
1. Quay West, on Alice Street overlooking the Botanical Gardens.
Consistently rated as the number one hotel in Brisbane on TripAdvisor.
One and two bedroom suites, with daily service and room service. Pool, gym, restaurant. Large balcony. Great location and great views from all suites. The one bedroom suites have kitchen, large living area with desk, laundry room, bathroom and large bedroom. Two modern flat screen TVs. The nicest pool in Brisbane. Operated by Mirvac.
Book here.
2. Felix Apartments on Felix Street at Eagle Street.
An apartment building that Oaks has turned into a short term stay building. Good location, and most rooms have river views. Pool. Partly air conditioned (not central air conditioning). No room service. No hotel facilities. Good clientèle. Weekly clean.
Book here.
3. Saville Hotel at SouthBank
Only 18 months old, one of the newest hotels in Brisbane. Great location, just out of the downtown, but with many good restaurants nearby. A full service modern hotel. Pool and gym. Room service.
Book here.
4. Oaks - 212 Margaret Street
This was once a good place to stay, but now has a large construction site next door. No services.
Book here.
5. Oxygen Apartments, at Spring Hill
This is a favourite place for IT workers. Small apartments, just out of the city. No services.
Book here.
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The best hotel, for a standard hotel room, is Stamford Plaza, on the Brisbane River. Book here.