Skyline, at 30 Macrossan Street, has had 16 sales in 2009, mostly from the developer clearing unsold stock of 3 bedroom apartments. Most of the owners are investors who do not live in the building. At least 2 investors lost money when reselling this year.
- Lot 12, 3 bedroom 2 level "townhouse" with outdoor area - sold in October for $950,000 (previous owners reportedly paid $1,240,000)
- Lot 82 - 2 bed, 87 sqm internal, 15 sqm balcony - sold in January for $645,000
- Lot 95 - 1 bed, 50 sqm internal, 11 sqm balcony - sold in February for $335,000
- Lot 134 - 3 bed, 2 bath - 101 sqm internal, 19 sqm balcony - sold in June for $694,000
- Lot 211 - 3 bed, 2 bath - sold in February by developer for $720,000
- Lot 221 - 3 bed, 2 bath - sold in February by developer for $776,000
- Lot 231 - 3 bed, 2 bath - sold in February by developer for $725,000
- Lot 254 - 3 bed, 2 bath - 101 sqm internal, 19 sqm balcony - sold in March for $782,000
- Lot 271 - 3 bed, 2 bath - sold in February by developer for $750,000
- Lot 281 - 3 bed, 2 bath, 114 sqm internal with 22 sqm balcony - sold in March by developer for $755,000
- Lot 291 - same as above - sold in March by developer for $795,000
- Lot 391 - 3 bed, 2 bath, total size 142 sqm - sold in October for $875,000 (previous owner paid $910,000)
- Lot 441 - 3 bed plus study, 225 sqm internal plus 16 sqm balcony - sold in August by company related to developer for $1,800,000
- Lot 442 - sold in August by developer for $1,800,000
- Lot 451 - same as 441 - sold in August by developer for $1,800,000
- Lot 452 - sold in September by developer for $1,750,000
RELIEVED property sector experts are optimistic about future growth for the industry after residential values seem to have dodged a bullet in the fallout of the global financial crisis. Experts across the country are predicting capital increases of about 5 per cent. Some are warning of problems associated with an undersupply of property. But Brisbane-based property researcher Michael Matusik has gone against popular opinion to suggest that developers should be cautious. "I have been banging on about an undersupply for close to 10 years, but circumstances have changed in the past six months to suggest that maybe we are, firstly, already building enough dwellings to cater for demand, and that we might even be heading for an overbuild if current trends continue," Mr Matusik said. He said increased foreign migration hadn't resulted in as big as demand as expected due in part to large household arrangements. RPData researcher Cameron Kusher is more bullish than many commentators and predicts 7 to 8 per cent growth in Brisbane next year. He cited availability of finance as the wildcard that could affect how many investors get into the market. He predicted many would look at older stock that needed renovating. Source: Courier Mail
UNIT sales are leading an improvement in turnover within Brisbane's property market, with 260 deals in the three months ending November. It compares with 174 the previous quarter. The sales show Brisbane's unit market is becoming balanced with only 13 months' supply, according to the latest Midwood Investment Report. Report author Bill Morris said that with approvals already in place for shelved development sites, there was the opportunity to quickly reintroduce them to the market. The unit resurgence follows some improvement in the more prestige end of the housing market, which had been lacklustre for more than a year. A leading Queensland property expert says there is an oversupply of apartments for sale on the Sunshine Coast. The author of the Midwood Queensland Investment Report, Bill Morris, says only 71 apartments were sold in the latest November quarter. He says the Sunshine Coast has many more apartments ready and waiting for sale than Brisbane and the Gold Coast. "The current figures show there's about three years of supply sitting there in new apartments at the current take-up rate or demand," he said. "The Gold Coast has got around 18 months supply and Brisbane's even less. Brisbane's about 13 months supply. So Sunshine Coast has a lot more apartments for sale in terms of take-up or sales." Projects are falling by the wayside as developers struggle to obtain finance, Bill Morris said, and this is contributing to the housing supply demand deficit.
Often, there are statistics that are published that set out the change in the medium house or apartment price. These statistics are often not helpful. For example, if in one quarter there are many low end properties that are sold, and in the next quarter, there are many top end properties sold, the medium price will increase. Similarly, if there are new apartments entering the marketplace, this will most often result in an increase in the medium price for the area. However, in both these cases, you cannot say that values have increased.
| Lot | P-Price | P-Date | Sell Price | Sell Date | A RoR | Total RoR |
| Admiralty Towers One | ||||||
| 5 | $282,500 | 2/08/01 | $520,000 | 25/09/09 | 7.77% | 83.97% |
| 73 | $490,000 | 19/10/06 | $600,000 | 30/06/09 | 7.79% | 22.42% |
| 76 | $498,000 | 15/05/03 | $685,000 | 31/08/09 | 5.19% | 37.50% |
| 92 | $510,000 | 21/03/07 | $545,000 | 7/08/09 | 2.83% | 6.86% |
| 119 | $810,000 | 1/02/06 | $1,200,000 | 19/03/09 | 13.36% | 48.12% |
| Quay West | ||||||
| 23 | $230,000 | 6/12/02 | $420,000 | 8/07/09 | 9.57% | 82.61% |
| 24 | $435,000 | 16/05/08 | $450,000 | 18/04/09 | 3.74% | 3.44% |
| 49 | $256,000 | 4/11/95 | $425,000 | 25/09/09 | 3.71% | 65.87% |
| 55 | $310,000 | 10/05/04 | $440,000 | 25/02/09 | 7.58% | 41.92% |
| 68 | $585,000 | 4/03/05 | $675,000 | 11/10/09 | 3.15% | 15.34% |
| 99 | $400,000 | 13/08/96 | $700,000 | 25/09/09 | 4.35% | 74.80% |
| 120 | $275,000 | 28/04/97 | $460,000 | 2/09/09 | 4.25% | 67.17% |
| Admiralty Two | ||||||
| 20 | $445,000 | 13/09/04 | $725,000 | 11/05/09 | 11.03% | 62.86% |
| 47 | $700,000 | 29/08/05 | $945,000 | 1/09/09 | 7.77% | 34.96% |
| 81 | $720,000 | 23/11/07 | $725,000 | 27/03/09 | 0.51% | 0.69% |
| 94 | $615,000 | 19/12/06 | $730,000 | 7/05/09 | 7.45% | 18.68% |
| 97 | $340,000 | 20/02/98 | $780,000 | 12/06/09 | 7.61% | 129.24% |
| 106 | $490,000 | 15/11/04 | $750,000 | 24/06/09 | 9.67% | 53.01% |
| 107 | $485,000 | 1/02/02 | $990,000 | 15/08/09 | 9.92% | 104.01% |
| 124 | $615,000 | 13/04/07 | $750,000 | 19/10/09 | 8.20% | 21.94% |
| 137 | $432,000 | 22/03/97 | $815,000 | 15/07/09 | 5.28% | 88.44% |
| Locality | Median Sep Qtr 09 | Change over qtr" | Median 12 months to end of Sep 09 |
Median 12 months to end of Sep 08 |
Change over 1yr" |
| BRISBANE (LGA) | $389,500 | 1.9% | $380,000 | $385,000 | -1.3% |
| BRISBANE (SD) | $365,000 | 2.5% | $355,000 | $355,000 | 0.0% |
| ALBION | N/A | N/A | $385,000 | $375,000 | 2.7% |
| ASCOT | $385,000 | 5.0% | $377,448 | $417,500 | -9.6% |
| AUCHENFLOWER | $395,000 | -12.2% | $429,500 | $407,000 | 5.5% |
| BOWEN HILLS | N/A | N/A | $420,000 | $422,500 | -0.6% |
| BRACKEN RIDGE | N/A | N/A | $349,750 | N/A | N/A |
| BRISBANE CITY ~ | $447,000 | 27.4% | $420,000 | $450,000 | -6.7% |
| FORTITUDE VALLEY | $387,000 | -11.0% | $397,500 | $365,000 | 8.9% |
| HAMILTON ~ | $450,000 | 16.9% | $410,000 | $462,500 | -11.4% |
| INDOOROOPILLY | $435,000 | 11.1% | $422,000 | $401,750 | 5.0% |
| KANGAROO POINT | $473,000 | 12.0% | $418,500 | $475,000 | -11.9% |
| KELVIN GROVE ~ | $408,500 | -24.4% | $430,000 | $399,000 | 7.8% |
| NEW FARM | $456,500 | 4.8% | $445,000 | $487,500 | -8.7% |
| NEWSTEAD | $531,000 | 0.2% | $530,000 | $530,000 | 0.0% |
| PADDINGTON ~ | $467,900 | 20.7% | $431,250 | $440,000 | -2.0% |
| SHERWOOD * | $475,937 | 39.0% | $425,000 | $349,500 | 21.6% |
| SOUTH BRISBANE | $410,000 | 1.9% | $399,000 | $450,000 | -11.3% |
| SPRING HILL | $400,000 | 0.0% | $384,000 | $385,000 | -0.3% |
| ST LUCIA | $460,000 | 1.1% | $442,500 | $450,000 | -1.7% |
| TARINGA | $397,000 | -0.5% | $389,000 | $370,000 | 5.1% |
| TOOWONG | $425,000 | -5.1% | $391,000 | $415,000 | -5.8% |
| WEST END | $514,990 | 1.0% | $520,000 | $565,000 | -8.0% |
Sunland Group will make its first foray into Brisbane's apartment tower market after acquiring a parcel of land in the CBD. The developer has acquired nearly half of the French Quarter site from Devine, and will seek planning permission for a tower that will feature about 200 upmarket apartments. Devine has sold several other assets in recent months.
As the phasing out of the first home-buyers grant buoys the rental market in Brisbane, premium apartment developments have pushed rental prices higher in the inner-city, according RP Data research analyst Cameron Kusher."
If you believe the sales agents hired by developers who sell apartments in Brisbane off-the-plan, you can't go wrong. Sign today, but don't pay for a few years. Population growth. Depreciation benefits. Get is early to choose the best apartment. Early buyers will get the best price. There will be a price rise soon, so sign today!
- the building may never start, and so the deposit is tied up for years
- the apartment may look different to what you expect, or have a worse view
- there could be development next door, impacting your view and the location
- the developer could onsell the development, and so you end up buying from someone other than who you signed with
- the apartment may be up to 5% smaller than set out in the marketing plans
- the quality may be different to what you expect.
So take extreme care building off the plan, as you may end up paying too much for something that you don't like or want.
101 3 bed, 2 bath $845,000
102 3 bed, 2 bath $850,000
103 2 bed, 2 bath, study $780,000
104 2 bed, 2 bath $695,000
105 2 bed, 2 bath $695,000
106 1 bed, 1 bath, study SOLD
107 1 bed, 1 bath SOLD
108 2 bed, 2 bath $690,000
109 2 bed, 2 bath $690,000
110 2 bed, 2 bath, study $775,000
Very expensive!! The project was originally advertised as starting in February 2009. My guess is that it will not start until late 2010 if at all.
"Thank you for your email enquiry regarding our proposed project at Milton.
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