By Darren Cartwright - Courier Mail - At Home - Page 05
MILLIONS SELL IN MONTHS AS STOCK RUNS LOW
Southeast Queensland’s property crisis has extended well beyond housing with concerns Brisbane’s off-the-plan apartment stock could dry up by the end of the year.
The run on proposed developments has been a boon for one sales company that moved more than $200 million worth of proposed apartments across three projects in two months.
Another developer sold three $2.5m plus pads, in an exclusive five-unit block, in just 12 weeks.
Those sales came after Place Advisory predicted there were just five months of off-the-plan units remaining in Brisbane.
The astounding rate at which off-the-plan apartments changed hands in the June quarter (April-June) ended with more than 680
unconditional contracts being signed, according to the Place Advisory apartment report.