Inner Brisbane’s off the plan apartment market has continued to experience a significant shift in the levels of unconditional transactions as sales momentum continues to soften.
A total of 315 unconditional apartment transactions were recorded in Inner Brisbane for the final quarter of 2016, a substantial decline from the same period 12 months earlier which saw a total of 1,293 transactions. This brings the total sales for the year to 2,149, back in line with the long term ten year average. The weighted average sale price for the quarter increased by 2.3% over the three month period to $631,270.
Place Advisory looks forward to reporting on the sales volumes and transactional trends over the coming 12 months. We expect that 2017 will be another challenging year but we will see some great opportunities present themselves.