There were 2,300 apartment sales across inner Brisbane over the past quarter.
This is up some 30% since the market trough late last year.
Higher interest rates have not had much negative impact, yet rising local population growth has helped fuel demand.
Most new apartments across inner Brisbane are now priced over $750,000. Resales in older apartment blocks have a cheaper price profile.
We have counted 76 major apartment projects currently active across inner Brisbane.
Excluding ‘Build to Rent’ and student accommodation projects, there are just over 12,000 new apartments on the inner-city horizon.
Of these 76 new projects, some 12 are ‘Build to Rent’, totaling 4,350 apartments. This sector is gaining momentum across
inner Brisbane.
Next year is shaping up to be another busy one, with some 2,600 new apartments (including BTR) set to be completed and a further 1,200 new apartments likely to be ready to start construction.
Much of this new apartment stock holds two bedrooms (45%) followed by three-bedroom (40%) apartments.