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New report shows planned supply of apartment stock significantly increased

By Reshni Ratnam - Realestate.com.au

Brisbane developers are shying away from ‘cookie cutter’ apartments in the CBD and turning to the suburbs to build bigger, better quality projects aimed at owner occupiers.

However Place Estate Agents residential research director Lachlan Walker said he did not believe the pipeline had increased to that extent.

“It’s still sitting around 16,000 and 20,000 depending on the mix of one, two and three- bedroom units,” Mr Walker said.

“I believe in the next 12-18 months time we will see the market turn back to one to two-bedders. We will see another generation of new development come through and it will become tighter cheaper stock.

“Right now we the market has absorbed a lot of supply, we are already starting to see rents increase, and vacancy rates decline. Anyone trying to release something in today’s market is constrained by finance.”

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